Ahluwalia expects nine per cent growth rate after five years

Mumbai, Mar 21 (UNI) Deputy chairman of the Planning Commission Dr Montek Singh Ahluwalia today said a nine per cent growth rate would be achieved in the next five years.

Speaking at a function, organised by Indian Merchant's Chamber to felicitate the winners of Ramkrishna Bajaj national quality awards and IMC Juran quality medal, Dr Ahluwalia said nine per cent growth rate was not possible this year but would be achieved in next five years.

''To start with, we had done well in 2006, and from now, if we reach nine per cent growth in next five years with population growing at less than one per cent, the per capita income will also increase and we are right on target'', he added.

''India is in a good position and a number of companies are doing well, and this economy is different from the economy prevailing ten to fifteen years ago, and its impact will be witnessed two decades later'', he observed.

''In next ten years, more flexible companies are likely to do better and it is good even for the government,'' he said.

Later talking to reporters, Dr Ahluwalia said the government has been successful in controlling inflation, in a situation when the whole world is seeing a steep rise in fuel prices.

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