NEW DELHI: India, which is aiming for average 9 per cent GDP growth in the 11th Five Year Plan ending 2012, may find the feat challenging as growth falters on the back a global economic slowdown.
The target of 9-10 per cent growth rate may look little ambitious in the current year when the world economy seems to be slowing down, Planning Commission Deputy Chairman, Mr Montek Singh Ahluwalia said here today.
“It will not be big surprise if growth will be slightly lower than what was forecast eight months ago,” he said, adding that in the medium term, “it (fast growth) is eminently feasible.”
The Indian economy registered a growth of 9.1 per cent in 2007-08. The Reserve Bank has since downgraded the growth rate for this fiscal to 8 per cent, while the Prime Minister's Economic Advisory Council has further pegged it down at 7.7 per cent.
Asked about the impact of implementation of the Sixth Pay Commission, he said, “I am sure we will be able to handle that.” - PTI
Source: http://www.thehindubusinessline.com/blnus/01211907.htm
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