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Global downturn drawing to a close: Manmohan Singh

Category :India Sub Category :National,Business
2009-09-01 00:00:00
   Views : 542

'Rational energy policies are critical for rational responses to the threat of climate change. This is a new compulsion. We need to assess whether we are on track in critical aspects of our energy policy.'

The prime minister said each energy sub-sector in India was the domain of a different ministry, which often meant non-symmetric policy stance. In other words, principles adopted to determine policy in one sector are not the same as in another.

He, accordingly, called for a proper assessment of how the country's Integrated Energy Policy, approved by the government in December last year, was being implemented so that changes can be made accordingly.

During the meeting, the Planning Commission also presented a paper before the members in which it expressed optimism about high growth path once again from the next fiscal, if the monsoon were normal during the ensuing years.

'We project growth of 8 percent in 2010-11 and 9 percent in 2011-12. This is optimistic but not impossible. If we have normal monsoon in 2010-11, we can expect a strong rebound in agriculture next year,' the paper said.

The plan panel paper also said India's merchandise exports - which dipped for the 10th consecutive month in July - will also be able to register a growth next year because of the turnaround expected in the global economy.

'Exports would also recover as industrialised countries return to positive growth of one percent in 2010 with further acceleration in 2011.'




Author :Indo Asian News Service



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