India can achieve 8-9 % growth: Manmohan

India can achieve 8-9 % growth: Manmohan

After the economy logged a decade-low growth rate in the last years of his tenure as UPA’s prime minister,  Manmohan Singh on Friday said India can achieve growth rate of 8-9 per cent provided there is “national consensus”.

“I think that even though many other emerging economies are not doing too well, India has an opportunity to move towards a growth rate of 6-7 per cent, and thereafter, to 8 per cent,” Singh said at a Ficci event.

He said the country is poised to take advantage of globalisation and engage in trade to finance its imports through exports. “Today, we cannot grow in isolation... India is well placed to take advantage of this situation provided we evolve a meaningful national consensus to move ahead,” he said.

Except for India, other emerging economies like Brazil, Russia and South Africa are not doing well, Singh said, adding that the country is poised for 8-9 per cent growth.

“There is a broad consensus that we need growth rate of 8-9 per cent to create 10-12 million jobs every year if we have to conquer unemployment within our lifetime,” he said.

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