Poor monsoon could lower India's growth, says Montek Singh Ahluwalia

Posted By: Staff
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New Delhi, Aug 18 (ANI): Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission on Tuesday said that India's growth projection could be trimmed due to a poor monsoon.

Yet the country has adequate food stocks to counter inflationary pressures, he said while addressing an international meet on key inputs for accelerated development of Indian power sector for the XII Plan held here.

"The existence of drought by itself can only lead to some shaving down of the growth projection. At the moment, agriculture is less than 20 per cent of the GDP. So, obviously, there will be some effect, but it need not be very large effect," he added.

He also mentioned that country has more than enough food stocks to counter famine-like situation and inflationary pressures.

"We have more than enough food stalks to be able to counter. I hope that by the effective management of food stalks, we will be able to counter inflationary pressure," he said.

On Monday, Agriculture Minister Sharad Pawar had said that the country needed to raise planting of winter-sown crops and improve irrigation to make up for the damage to farms. (ANI)

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