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Feb 18, 2013

Economy to grow at 5.5% in 2012-2013: Montek Singh Ahluwalia

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Planning Commission Deputy Chairman Mr. Montek Singh Ahluwalia has said that the Indian economy will grow at a rate of 5 to 5.5% in 2012-2013 fiscal year.

As per media reports, in an interview to PTI, Montek Singh Ahluwalia said "It (GDP growth rate) would be somewhere between 5 and 5.5 per cent. If everything worked perfectly, I would not rule out seven per cent next year (2013-14)."

As per his words economy would give signs of recovery if the strength of recovery continues. Couple of days back, India President Pranab Mukhaerjee at the inauguration ceremony of 20th International Engineering and Technology Fair (IETF), said "Though our economic growth has recently declined somewhat, I am confident that we will be able to bring the deceleration to a halt and revert to the eight per cent growth levels that we attained many times in the past."

Due to subdued interest from Investors and some global factors, in 2011-2012 fiscal year, economy has come down to 6.2 from 9.3 percent in 2010-2011.

While talking to Reuters in an interview Social activist and Leader of Aam Admi Party, Arvind Kejriwal said that the figures are just meant for few people in India as a common man is always living the miserable life whether GDP increases or decrease.

Prime Minster's Economic Advisory Council C. Rangarajan also predicted the economy to bounce back to 6.5-7 in current fiscal year and predicted of more recovery in subsequent years.


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