India can grow by 9% through PPP: Pranab
Union finance minister Pranab Mukherjee said India has the potential to achieve 9% growth, provided Public-Private Partnership (PPP) model was optimally utilised.business Updated: Aug 21, 2011 10:35 IST
Union finance minister Pranab Mukherjee said India has the potential to achieve 9% growth, provided Public-Private Partnership (PPP) model was optimally utilised.
"There is no reason why we cannot achieve a 9% growth rate. Half of the population is in the 20s, their productivity and employability can be increased drastically. With effective use of PPP, we can achieve the desired level of growth," Mukherjee said at an award function in Kolkata on Saturday night.
"We have the potential of achieving more if both inside and outside stakeholders work with common commitment," he added.
The finance minister expressed satisfaction over the performance of the economy in the aftermath of the global meltdown.
"The Indian economy recorded just a brief pause during the global economic meltdown and since then it has recorded a steady growth of 6%."
Mukherjee said with India slated to be one of the top three economies in the next decade, huge infrastructural investment will be made.
"As per the recommendation of the Planning Commission, around $1 trillion would be invested in infrastructure which in turn will boost the economy."
He also expressed happiness over the performance of Indian exports.
"The Indian export is steadily climbing the value chart. There is diversification of not only products but also markets. In 2010-11, our export grew by 45%."
He assured the export community that the government was aware of their problems and working for their redressal.