New Delhi, May 14 (UNI) Planning Commission Deputy Chairman Montek Singh Ahluwalia today vowed that India will soon overtake the Chinese growth rate, but said the delivery system needs to improved.
Dr Ahluwalia cited statistics to support his contention that India was on the the brink of overtaking the Chinese growth rate.
The eminent economist was launching Tarun Khanna's book 'Billions of Entrepreneurs - How China and India are reshaping their future and yours' at a function here.
Dr Ahluwlia said the public service delivery had failed and attributed that primarily to management failure and lack of accountability.
''While India was a country driven through Management by Processes, much to its detriment, China, on the other hand, is driven by Management by objectives,'' he said.
Dr Surjit Bhalla, head of Oxus Research&Investments, said while India has done well and better than China in many comparable average statistics over the past few decades, the entire credit for this cannot be taken by the government.
He suggested that the intrinsic growth potential of India is primarily responsible for its rapid growth. Globalisation and the country's middle class are the driving forces behind the nation's growth story.
''While India has caught up with the Chinese economy on many fronts, the country's per capita income even today is 2.5 times lower than China's,'' Mr Bhalla added.
UNI PDT AK GC1839