9 percent growth in 12th plan realistic: OfficialOctober 1st, 2011 - 7:10 pm ICT by IANS
Kolkata, Oct 1 (IANS) The nine percent growth target of the Indian economy during the 12th Five Year Plan period is achievable despite the global economic slowdown, a top official said Saturday.
“Nine percent GDP growth is realistic during the 12th Five Year Plan period (2012-17). India’s share in global trade is only 1.5 percent. It insulates us from the global slowdown. We may sustain the economy because of less dependency on global economy,” Mohammad Haleem Khan, secretary in the disinvestment department (in the finance ministry) said at a programme organised by the Indian Chamber of Commerce (ICC) here.
“We should have optimism to enter into the 12th Five Year Plan period despite of the current global economic scenario,” he said.
Khan, however, said 9.5 percent GDP growth in the plan period seemed too optimistic.
Stating that the country’s saving rate should be 36 percent of the GDP to attain nine percent growth, he said: “Currently, the saving rate is 34 percent. Saving rate increase to 36 percent may not be difficult.”
The greatest challenge in the plan period would be creating adequate employment opportunities for the young population, he added.
- India can have third largest GDP by 2025: PM (Lead) - Aug 22, 2011
- India to return to 8-9 percent growth: President (Second Lead) (With image) - Mar 12, 2012
- Nine percent growth not possible in 12th Plan: Montek - Jul 06, 2012
- India's economic growth dips to 9-year low of 5.3 percent (Roundup) - May 31, 2012
- 'Education, skill development top priority of 12th Plan' - Aug 06, 2012
- RIL to invest Rs.1 trillion in five years: Mukesh Ambani - Jun 07, 2012
- India to grow by 8.5-9 percent in long term: Mukherjee - Oct 17, 2011
- India to target 10 percent growth in 2012-17 - Sep 10, 2010
- Budget highlights 4 - Mar 16, 2012
- 12th Plan growth projection lowered to 8.2 percent - Sep 14, 2012
- Slowdown temporary: Montek - Jan 06, 2012
- Inflation will remain at same level: Pranab - Apr 17, 2012
- Downturn temporary, India will clock high growth soon: Pranab - Dec 27, 2011
- India to aim at 8 percent plus growth next fiscal: Namo Narain Meena (Interview) - Jan 12, 2012
- Indian economy hit by high inflation, slowing growth (2011 in Retrospect) - Dec 28, 2011
Tags: chamber of commerce, economic scenario, employment opportunities, finance ministry, gdp, gdp growth, global economic slowdown, global economy, global slowdown, global trade, greatest challenge, growth target, haleem, indian chamber of commerce, indian economy, mohammad, optimism, plan period, population, rate increase