Economy to grow by at least 6.3%, says Montek

Economy to grow by at least 6.3%, says Montek

“The gross domestic product would grow at least by 6.3 per cent in the current fiscal. It could be even better given the signs of economic recovery,” Ahluwalia told reporters releasing UNDP Human Development Report, 2009.

Earlier releasing the the report, he said India is against any protectionist measures as it would come in the way of growth of the overall global economy.

Focusing on the complex issue of migration the report noted that while migration within and across borders might be beneficial to both the individuals and national economies at large, opportunities might be lost due to barriers and constraints to movement.

Social remittances

The report titled “Overcoming barriers: Human mobility and development” has observed that in 2007 remittances from migrants to India were US$35,260 million, which was 1.5 times greater than Foreign Direct Investment. Referring to ‘social remittances’ the report said benefits of migration included reductions in fertility, higher school enrolment rates and the empowerment of women.

Identifying the ‘barriers’ it said internal movement could be impeded by regulations and administrative procedures that exclude migrants from access to public services like water and electricity and legal rights that locals have. The policy stressed rights for migrants ensuring benefits for migrants and destination communities alike, making it easier for people to move within their own countries.