Dec 28, 2012, 09.02 AM | Source: Reuters
India's annual economic growth target of 8 percent for the next five years is "ambitious", Prime Minister Manmohan Singh said on Thursday.
The country should aim for an 8 percent average growth over the five years beginning April 2012, Montek Singh Ahluwalia, deputy chairman of the planning commission, said on Wednesday.
India's is battling its worst slowdown in a decade. Economic growth for the current fiscal year that ends in March is forecast to be 5.7-5.9 percent, the slowest since 2002-03.
Singh, speaking at an event to finalise targets for the country's next five-year plan, also said that early implementation of a goods and services tax was critical to boost the tax/GDP ratio.
He added that subsidies on energy products should be limited, with a phased adjustment of prices.
Five things about credit you must teach your kids!
Handling credit is a task for many adults. It is b
Five things scaring markets
While U.S. growth is sluggish, a series of weakeni
Gravitational waves discovery: PM lauds role of Indian
"Historic detection of gravitational waves opens u
Coke heeds PM's call,to launch fizzy drink with fruit juice
Coca-Cola India will be launching what it termed a
Jaya seeks PM's intervention to expedite rail projects in TN
In a letter to Modi, Jayalalithaa said she had pro
Five X Finance standalone Dec '15 sales at Rs -0.59 crore
Five X Finance and Investment has reported a stand