“The global slowdown is not still over. This slowdown, which has affected 2008-09 and affect 2009-10, will also affect 2010-11”, Deputy Chairman Montek Singh Ahluwalia said, addressing the annual meet of industry chamber Assocham.
The global financial meltdown has pulled down India’s economic growth to 6.7 per cent during 2008-09 from about 9 per cent a year ago.
As regards the Eleventh Plan, Ahluwalia said, “it is not going to be an average of nine per cent. To achieve nine per cent, we will have to grow at 11 per cent for next two fiscal which is not possible. “We will have a clear idea about growth during 11th plan after the mid-term appraisal which is going on”, he added.
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