External milieu could impact, says Montek

Planning Commission Deputy Chairman Montek Singh Ahluwalia, on Tuesday, indicated that ''external deterioration'' could have a bearing on the country’s projected 9 per cent economic growth during the 12th Five-Year Plan.

Ahluwalia, who was addressing a convention of Indian Economics Association here, said India might not have good exports market and “external deterioration” could lead to a balance of payment problem.

Dwelling at the eurozone and US financial crisis, Ahluwalia posed a question, “Is external environment going to be conducive to achieve nine per cent growth (in the 12th five year plan)?” and said that it also depended on factors such as capital, labour and productivity as well as improvement in public savings.