Comments
At the current growth rate, India would the third largest economy in the world by 2025, the Prime Minister, Dr Manmohan Singh, said.
However, considering the global economic turmoil, achieving such a growth would not be easy, he said speaking at the Golden Jubilee celebrations of the Indian Institute of Management- Calcutta, on Monday.
During his meeting with the Planning Commission on Saturday, the Prime Minister had set a “very ambitious” target for the country to achieve a “faster, sustainable and more inclusive” 9 per cent growth during the Twelfth Plan (2012-17).
“It is in fact a very ambitious target given the current global economic situation, which is full of uncertainties about the prospects in industrialised countries and their implications on global capital markets. Our own economy has also slowed down compared with last year and this year's growth may be around 8 per cent or a little more, at best,” Dr Singh said.
According to the Prime Minister, in order to repeat the growth performance of Japan, Korea and China, India should improve in agriculture productivity, create infrastructure to ensure inclusive growth, achieve energy efficiency and rational pricing of energy products, manage water resources, expand education and health services among others.
“India is now capable of repeating the performance of this group (Japan, Korea and China) of Asian countries. But we must remember that it will not happen automatically, by simply proceeding on business-as-usual basis,” he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.