New Delhi, May 14 (UNI) Opposed to the general perception that the government is not radical enough, Deputy Chairman, Planning Commission Dr Montek Singh Ahluwalia said India will soon overtake the Chinese growth rate.
Dr Ahluwalia pointed out various statistics and comparisons that suggested that India today is on the brink of overtaking the Chinese growth rate.
Having said this, he admitted that the public service delivery in the country had failed and this was primarily due to money and 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,'' Planning Commission chief said while launching Tarun Khanna's book 'Billions of Entrepreneurs - How China and India are reshaping their future and yours'.
Driving a different opinion, Surjit Bhalla, Oxus Research&Investments, CMD who was also present at the event said while India has done well and better than China in many comparable average statistics over the decades, the government may not be able to walk away with all the credit.
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 lesser than China's,'' Mr Bhalla added.
UNI PDT AK GC1729