Planning Commission deputy chairman Montek Singh Ahluwalia, asserting that double-digit economic growth was not on the radar in the next 10-15 years, said a nine per cent growth target was “actually ambitious” for India, and aiming higher was “unwise”. “I think a nine per cent growth target is actually ambitious, and we have emphasised in the approach paper that it should not be assumed this is going to happen if we act on a business as usual basis,” Dr Ahluwalia told Financial Chronicle in an interview on the 12th Plan approach paper. Dr Ahluwalia said even nine per cent growth would require a lot of hard work in the 12th Five-Year Plan (2012-17), and aiming higher would be “unwise” at this stage. The Indian economy is estimated to grow at an average annual rate of 8.6 per cent in the current 11th Plan (2007-2012). He said even with eight per cent growth, India would become the third largest economy at $10 trillion in 2025, after China and the US, and this would bring the poverty level to just 5-10 per cent. He denied that the Anna Hazare agitation was the trigger for the commission to take a serious view on lack of governance. On “game-changing measures”, Dr Ahluwalia said these were difficult to point out, but the 12th Plan’s focus was on infrastructure, agriculture, water, energy, manufacturing, education and healthcare.
Asian Age
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