Lowering interest rates and reduction in fiscal deficit is important for the stabilising and growth of the economy, said Planning Commission Deputy Chairman, Montek Singh Ahluvalia. The Reserve Bank is slated to announce its monetory policy review on January 29, amid industry demand on lowering of interest rates.
He said investement in infrastructure had to be financed through increase in domestic savings, as reducing the fiscal deficit was important for long term sustainability.
Investment in infrastructure is quite critical as it is a major constraint to India's ability to attract both domestic and foreign investments and make it more productive.
Investment inflow have significantly declined by about 3% points since 2007-08 in the aftermath of the global economic crisis. We need to reverse this trend to achieve high economic growth and for this we need fixed investment of 35% by the end of this plan period.
Courtesy: THE HINDU
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| Planning Commission, Deputy Chairman, Motek Singh Ahluvalia |
Lowering interest rates and reduction in fiscal deficit is important for the stabilising and growth of the economy, said Planning Commission Deputy Chairman, Montek Singh Ahluvalia. The Reserve Bank is slated to announce its monetory policy review on January 29, amid industry demand on lowering of interest rates.
He said investement in infrastructure had to be financed through increase in domestic savings, as reducing the fiscal deficit was important for long term sustainability.
Investment in infrastructure is quite critical as it is a major constraint to India's ability to attract both domestic and foreign investments and make it more productive.
Investment inflow have significantly declined by about 3% points since 2007-08 in the aftermath of the global economic crisis. We need to reverse this trend to achieve high economic growth and for this we need fixed investment of 35% by the end of this plan period.
Courtesy: THE HINDU
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