FPJ BUSINESS DESK Mumbai
Amid fears of slowdown, Deputy chairman of planning commission Montek Singh Ahluwalia said that India can achieve 9 per cent growth during the 12th plan starting 2012 despite the current weak global economi
c scenario and high inflation.
Speaking at the 2nd Ramrao Adik oration in Mumbai, he highlighted the increasing ability of developing nations to grow without depending too much on the rest of the world.
” There is an autonomous growth capacity in the country which reflects in its own institutions, its human skills, its entrepreneurial skills etc. When you have that, then you have an autonomous growth capacity,” he said. On the runaway inflation, Ahluwalia blamed it on rising incomes in rural areas, adding it is a sign of rural prosperity. He listed energy, water, managing urbanisation and governance delivery as key challenges in meeting growth objective.
