China a threat to economy, Plan panel tells PM

Prime Minister Manmohan Singh on Wednesday discussed the new economic and social threats India faces, especially from China, and the way to combat them with the members of the Planning Commission. HT reports.

Prime Minister Manmohan Singh on Wednesday discussed the new economic and social threats India faces, especially from China, and the way to combat them with the members of the Planning Commission.

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Plan panel deputy chairperson Montek Singh Ahluwalia made a detailed presentation on the perceived challenges and changes required at policy level to meet them. He also talked about different scenarios likely to emerge in coming years and its likely impact on India.

They feel China will be able to consolidate on its impressive growth story because of its controlled economy. "China's rising economic and strategic power is a big threat for India. We have to bring policy changes to utilise our natural resources in environment friendly manner," said minister of state for planning Ashwini Kumar.

Even though the panel believes India should have an aspirational goal of achieving nine per cent economic growth in the 12th plan, achieving the target would not be easy considering the global economic situation.

A PMO spokesperson called the meeting as a preparatory where decisions were not expected. “The PM wanted the members feedback on its preparations on the 12th five year plan...," Kumar said.