Diaspora to help finalise 11th Five Year Plan
"There are many experts in Indian diaspora from which we can get fresh and workable ideas. If there are good ideas in any part of the world we are ready to take it, Montek said.
New Delhi: Planning Commission's deputy Chairman Montek Singh Ahluwalia has invited the experts in Indian diaspora to form a working group and give inputs for finalizing the 11th Five Year Plan.
"There are many experts in Indian diaspora from which we can get fresh and workable ideas. If there are good ideas in any part of the world we are ready to take it," he said.
Ahluwalia emphasized that liberal economic policies did not mean that planning has become irrelevant. "We are not planning for economy in old fashioned ways. Now planning is about identifying government's own priorities," he said. Highlighting the importance of public expenditure,Ahluwalia said, "The public sector could play a significant role in setting up various projects in backward areas where private sector may not reach."
He further added that to make the India's growth experience all-inclusive, the approach paper to 11th five-year plan has identified four major areas of focus-agriculture, infrastructure, health and education. "A great deal of scope exists for bringing huge investments in the infrastructure by the private sector," he said. "There is a need to introduce structural changes in the agriculture. It has not done well.
There is a need to go for a second green revolution," he added. Ahluwalia cautioned that while energy crisis faced by India can be addressed, the water crisis could pose a bigger problem. "The water crisis is more serious than the energy crisis," he added. Improving agriculture growth in water stress condition is going to be a major challenge.
"There are many experts in Indian diaspora from which we can get fresh and workable ideas. If there are good ideas in any part of the world we are ready to take it," he said.
Ahluwalia emphasized that liberal economic policies did not mean that planning has become irrelevant. "We are not planning for economy in old fashioned ways. Now planning is about identifying government's own priorities," he said. Highlighting the importance of public expenditure,Ahluwalia said, "The public sector could play a significant role in setting up various projects in backward areas where private sector may not reach."
He further added that to make the India's growth experience all-inclusive, the approach paper to 11th five-year plan has identified four major areas of focus-agriculture, infrastructure, health and education. "A great deal of scope exists for bringing huge investments in the infrastructure by the private sector," he said. "There is a need to introduce structural changes in the agriculture. It has not done well.
There is a need to go for a second green revolution," he added. Ahluwalia cautioned that while energy crisis faced by India can be addressed, the water crisis could pose a bigger problem. "The water crisis is more serious than the energy crisis," he added. Improving agriculture growth in water stress condition is going to be a major challenge.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
