Washington: The Indian economy continues to be on an accelerated trend with an upsurge in investments, low inflation rate and ample foreign exchange, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia has said.

"There is an upsurge in investments, inflation below four per cent and a surfeit of foreign exchange reserves, in the neighbourhood of U.S. $150 billion," Mr. Ahluwalia said at a United States-India Business Council-CII event here.

He, however, added that the government was not satisfied with the present growth rate and seen in the context of China, there had been a rise in public expectations. "The bar has been raised," the economist said on Friday.

Mr. Ahluwalia maintained that there could be a gradual acceleration to a ten per cent growth rate over the next five years with the average growth being between eight and nine per cent. "India can get to a ten per cent growth rate but the questions that are to be posed are over what period and the kind of policies that are needed to be put in place to achieve this objective. We are quite clear that this acceleration will not come from simply business as usual," he said.

Good growth

During the interactive session, Mr. Ahluwalia said that while there had been a "good" growth for the economy, the feeling in the country was that it had not been "sufficiently inclusive".

Printer friendly page  
Send this article to Friends by E-Mail