Attributing declining growth to global and domestic factors, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday said efforts to revive infrastructure investment would help in reverting to 8 per cent growth in next three years.
“We are working to revive the pace of investment in infrastructure, which we believe can provide the basis for a return of growth back to eight percent over a three year period. Our economic fundamentals are strong and we believe that a return to high growth is possible,” Ahluwalia said while addressing the Strategic Economic Dialogue (SED) forum.
In the October-December quarter, India’s economy grew below expectations at 4.7 per cent on falling output in the manufacturing sector. Growth in the first nine months (April-December) was 4.6 per cent.