Montek Singh Ahluwalia Sees Signals of Turnaround in Indian Economy

  • Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission, sees signals of a turnaround in the Indian economy and predicts stronger growth in the second six months of the financial year
  • A GDP growth target of 7% next fiscal year is not impossible to achieve
  • The government’s latest reforms and the new five-year plan are part of a huge agenda, the majority of which has to be implemented by the states
  • The fiscal deficit will be reduced from 6% to 3% of GDP by 2016
  • Learn more about the meeting: http://www.weforum.org/india

National Capital Region, Gurgaon, India, 8 November 2012 – There are signals of a turnaround in the Indian economy and the second half of this fiscal year will see stronger growth, said Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, India, during the closing plenary session of the World Economic Forum on India. “Next fiscal year, it’s not impossible to target a growth rate of 7%,” he added, during a session in which participants remained optimistic and upbeat about India’s future prospects.

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