(From left to right): Mr Haji Ahmad Husni Bin Mohamad Hanadzlah, Finance Minister of Malaysia, Mr Pranab Mukherjee, Finance Minister of India, Mr Haruhiko Kuroda, President, ADB, and Mr Cesar V. Purisima, Finance Secretary, Philippines, at the ceremony to mark the commemoration of 25 years of India-ADB partnership in the capital on Monday. Photo: Kamal Narang | Photo Credit: Kamal Narang
India remains firmly on a growth path of 8.5 per cent to 9 per cent in the medium to long-run, the Finance Minister, Mr Pranab Mukherjee, said on Monday.
Speaking at a function to celebrate 25 years of India-Asian Development Bank (ADB) partnership, Mr Mukherjee cautioned, “We, however, need to be alert and respond to the emerging challenges and concerns, in a timely manner as we make efforts to achieve our potential as a young and fast growing nation.’’
While keeping in mind the investment target of $1 trillion in infrastructure during the 12th Five-Year Plan, the Minister requested the bank to step up the momentum of collaboration.
He also sought the bank’s assistance in developing clean and alternative sources of energy and technologies to expand energy efficiency measures.
The Finance Minister expressed concern over food security and volatility in prices. “We recognise that increase in agricultural production on a sustainable basis is the only long-term solution to the problems of availability as well as high and fluctuating food and commodity prices,’’ he added.
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Published on October 17, 2011
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