Archive for June 12th, 2009

India will return to 8 per cent GDP in medium term: Montek Singh Ahluwalia

India will return to 8 per cent GDP in Medium term: Montek Singh Ahluwalia

India will return to 8 per cent GDP in Medium term: Montek Singh Ahluwalia

The deputy chairman of the Planning Commission, Montek Singh Ahluwalia, is supporting Prime Minister Manmohan Singh’s view that India will return to 8-9 per cent growth in the medium term, as the country is on a strong wicket on many fronts.

In addition, once the global economy starts to recover, the return on capital will also be advanced in an economy like India, which is poised to grow faster than its Western counterparts. And the entry of $5 billion into the country in the past two months is a clear sign of easing capital flow, he said.

Earlier, the Prime Minister had declared that India will bounce back to 8-9 per cent growth in the medium term even if developed economies do not recover.