Good infrastructure can get back India to 8% growth: Montek
India can get back to 8 percent GDP growth with improved infrastructure, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said.
New Delhi: India can get back to 8 percent GDP growth with improved infrastructure, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said.
"...If government concentrates 90 percent of its energy on delivering the infrastructure, on environment...I think we will be back to 8 percent growth much faster than what the people think today," Ahluwalia said.
He was speaking at an award function Monday evening.
Ahluwalia said the Indian economy was growing at the 5 percent level from 8 percent earlier.
"...After all 5 percent growth may look very good if you are in Europe, it will look very good if you are in Brazil... very good if you are in South Africa, very good if you are in Japan, but doesn't look good in India.
He said the Cabinet Committee on Investment (CCI) was set up to address problems holding up large projects and speed up the clearances.
"...We need some innovative, may be out of the box problem solving solutions, finding some ways of taking care of some problems and that is what the CCI is designed to do.
"I think the next few weeks should be enough to demonstrate that the government is aware that there are problems and they are going to get resolved.
"And I think if we do that, the mood will change and you won't have quite the same negativity which otherwise has been evident in any gathering that discusses the economy," he added.