India will beat China as fastest growing eco – Montek

By Poonam Singhal on 4 February, 2010, 10:05 pm

Planning Commision deputy chairman Montek Singh Ahluwalia is confident that India will beat China as the fastest growing economy in the World. He said India has not achieved its full potential yet. We still need to touch the peak of growth potential, which is easily 9% – 10%.

He says, “If India accelerates to say 10% & China begins to decelarate, you would have a situation where India grows faster than China”.

To get some facts, India had been growing by around 9% till the global economic slowdown hit us in 2008-09. It got slowed down to 6.7% during 2008-09.

India grew by 7.9% in the July-Sep 2009 quarter.

For the current fiscal 2009-10, FM, Pranab Mukherjee expects a growth of 7.75%.

In the quarter ending December, China has grown at 10.7%, retaining its position as the fastest growing eco in the world.

But Montek says India’s outlook to the global investor community has changed and hence India can take on China.

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