Speaking at the India Economic Outlook Conclave, organised by the SME Chamber of India, he said that “any government should be ruthlessly judged on whether it is aiming to get 7-8 per cent growth over the next 10 years. A few quarters of low growth is more of an aberration.”
Yet, he said that a few quarters of “downturn” were normal in any economic cycle when asked if the six-seven consecutive quarters of sub-seven per cent growth during the UPA-II Government’s tenure were more than just an aberration.
Ahluwalia said if the new government acts correctly, it should be easy for the country to return to the high growth path. “… the new government will have a year or so of a honeymoon period where it will just do what needs to be done. I don’t think people will object to that. After a year or so, we will get back to the discussion mode… There is a good chance that if they do the right thing, we will see the economy returning back to a higher growth path.”
Industry, Ahluwalia said, did not capitalise on the years of high economic growth. “During the years the economy was growing at 8 per cent, the industry was growing at only 6 per cent.” There is no reason why manufacturing should not post double-digit growth. “We need to find out why the industry did not do well,” he said.
Source: The Hindu - BL
Source: The Hindu - BL
