Finance Minister P Chidambaram has re-iterated that India’s potential growth rate is 8%+, and we cannot afford to become complacent and sit back.
Speaking at the ADB meet in New Delhi, Chidambaram said: “I am not satisfied with the 5%+ growth rate. We are a mature and vibrant democracy. We have taken effective steps to rein in economic slowdown and fiscal stress in the past few months….
“At the forefront of all this is the focus on inclusive growth. What is “inclusive” growth? It is growth that is broad-based, shared and one that focuses on the poor. A recent estimate was that for every one percent of GDP invested in infrastructure, India creates almost three and a half million direct and indirect jobs…..
“Integrated action is being taken in primary health, education, low-cost housing and food distribution. Pilot schemes are being launched through innovative public private partnership models.” Read More