India needs to aspire for higher growth: Experts

Investment Guru India

Mumbai : - Amid a slowing Indian economy, a former Deputy RBI Governor on Saturday said that even an annual growth rate of 7 per cent is not good enough and India requires a much higher rate.

India has been witnessing a decline in the GDP growth for the past three consecutive quarters.

"India is $2k per capita income, China is $9k, Thailand is $6k. If we grow at 7 per cent annually, the per capita income will be lower than China today even 20 years from now. If we want to achieve our GDP goals, there's no choice but to have a higher aspiration for growth," the central bank's ex-Deputy Governor Rakesh Mohan said at the 58th SKOCH Summit on ModiNomics 2.0 here.

"We can't achieve high growth without high investment and can't have investment without savings," he added.

Disclaimer: This is an automatically aggregated article/story by a computer program and has not been created or edited by Newsdig.in.
Advt
Advt
Advt
sitemap Disclaimer
Newsdig.in 2019