India's GDP growth won't slip to 5%: Montek Singh Ahluwalia

India's GDP growth won't slip to 5%: Montek Singh
The Planning Commission deputy chairman Montek Singh Ahluwalia today said that India's economic growth would not come down at 5 per cent as many brokerages and analysts have pointed out recently citing lack of reforms amid persistent inflation and high interest rates.

The statement of Ahluwalia came on the day when government has rolled out much-needed diesel price hike of 12 per cent, and is ready to cheer investors with PSU disinvestment plans and FDI in aviation.

"I don't think growth would come down to 5 per cent in the current fiscal... The government is taking number of steps which will bring growth up. We would expect to see an improvement," Planning Commission Deputy Chairman Montek Singh Ahluwalia.

Also the statement came a day after Plan Panel's 12th draft document warned that persistent policy logjam could pull the growth down to 5 per cent. The panel pegged the average annual growth rate at 8.2 per cent for the 12th five year plan that ends in 2017.

Read more about: gdp, government
Story first published: Friday, September 14, 2012, 15:31 [IST]
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