India needs urgent reform to arrest growth falling below 6%: Planning commission panel

Posted By: Religare
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India needs urgent reform to arrest growth falling below 6%
Analysing the declining pace of growth of the country, a Planning Commission committee has called for urgent reforms from the government in the Country in a bid to prevent the growth rate from falling below 6 per cent in the absence.

"Without reform, growth (is) likely to grind to less that 6 per cent per annum," said the National Transport Development Policy Committee Working Group on Transport of Bulk Energy and Key Commodities in its report to the Plan panel.

Urging government to react immediately, the panel stressed on the need to step up reforms in investment planning, incentive regime and strengthen regulators to help the country in attaining the economy to grow at 8-9 per cent.

Meanwhile cautioning about the impact of deficit rainfall in the country, Planning Commission Deputy Chairman Montek Singh Ahluwalia said deficient monsoon was likely to pull down the economic growth in the current fiscal to about six per cent, from 6.5 per cent a year ago.

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