This article was last updated on April 16, 2022
India can achieve 9% growth in 12th five-year plan if scarcity in the key sectors of infrastructure and energy is addressed through big investment, Planning Commission Deputy Chairman Montek Singh Ahluwalia has stated today.
He has told that the economic recession is expected to be over, and increase brought under control, in about three months, and added, “Nine per cent economic growth target is very much attainable during the 12th plan if these challenges are addressed.” “There is nothing to suggest that 9% GDP growth is not achievable if we do what is necessary.
We need to do a lot to raise efficiency and remove impediments and constraints,” he has said while delivering Foundation Day Lecture of aluminum giant NALCO here. Describing communications as the key to spurring the economy, Ahluwalia said both central and state governments need to take concrete steps to strengthen roads, transport and energy sectors which still remain considerably weak.
Stating that infrastructure requires huge funds, he has told that substantial investment could be guarantee through PPP projects. “India has the second largest number of PPP projects as per a data,” he said.
In order to achieve 9% growth, India must attain 6.5% growth in total energy, Ahluwalia has said, addition that electricity is already scarce and to enhance economic growth power demands would raise further. Voicing concern over losses being incurred by power distribution companies, Ahluwalia said state electricity regulatory commissions must be allowed to function freely.
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