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The Prime Minister of India, Manmohan Singh said while announcing the 12th Five Year Plan that the immediate requirement should be to rebound this year to get the set target of 8.2% growth that is inclusive and sustainable.
The respected PM Manmohan Singh said, “Our objective is not just growth of GDP, but growth that is inclusive and also sustainable.”
Further, the Prime Minister highly recommends the need of private investment to get the set target growth of the year.
The central government of the country is facing high pressure from the biggest opposition party BJP and the supporting party Left, as these parties are planning nationwide protest against UPA’s bid to allow FDI in retail and civil aviation sector.
Further, some regional parties such as Samajwadi party and Janata Dal (U) also joined the protesting camp, demanding a rollback of the hike in diesel prices and LPG gas cylinders.
Foreign Minister Hina Rabbani Khar Saturday said that by December Pakistan and India would complete a trade normalisation process which would ensure that traders from India are treated like those from any other country.
Addressing a joint press conference with Indian External Affairs Minister S.M. Krishna, she said: “We will treat traders from India as traders from anywhere else.”
“By the end of December, we would complete a trade normalisation process that would ensure that India was treated like any other trade partner.”
Overcoming the expectations, India’s economy [GDP] has hit the 5.5% mark in the first quarter [Q1]of the present financial year as compared with 8 percent in the last year.
Reports have said that in the first quarter of 2012-13, agriculture increased 2.9 percent as compared to 3.7 percent in the same period of the last year. And, construction activity jumped 10.9 percent as against 3.5 percent in the last fiscal year.
Reports have said that that the central government is likely to hike diesel prices after Prez Polls on July 19.
The decision will be taken by the government to fill the loss faced by them to cut the amount of money it pays out to keep prices lower.
Talking to media, a source without revealing his name said, “This has been the thinking for quite some time that a price rise could come after Presidential polls.”
Dismissing govt. target of 9% GDP in the upcoming five years, the Deputy Chairman of the Planning Panel Mr Montek Singh Ahluwalia Plan today said even achieving average 8% growth need a major strategic effort.
On Friday, Mr Ahluwalia addressed a conference of State Planning Boards and departments in New Delhi where he took a wide look over much worse position of Indian economy that facing global market situation.
The Reserve Bank of India [RBI] on Monday has announced a series of steps which according to RBI will help to improve the national currency and the economy.
The measure explained by the RBI includes growing limits for external commercial borrowings as well as government securities.
