India can grow at 9 pc during 12th plan period: Planning Commission Deputy Chairman Montek Singh Ahluwalia

MUMBAI: Planning Commission Deputy Chairman Montek Singh Ahluwalia today indicated that India can achieve 9 per cent growth during the 12th plan period despite the current weak global economic scenario and high inflation in the country.

"I don't believe that the present state of the global economy or the high rate of inflation is a reason for not aiming at nine per cent growth," Ahluwalia said delivering the 2nd Ramrao Adik oration here.

The plan panel recently said that it is targeting a 9 per cent growth during the 12th five year plan period starting 2012 and 4 per cent growth in agriculture.

Ahluwalia also pointed to the increasing ability of developing nations to grow without depending too much on the rest of the world.

"There is an autonomous growth capacity in the country which reflects in its own institutions, its human skills, its entrepreneurial skills etc. When you have that, then you have an autonomous growth capacity," he said.

On the rising food prices, Ahluwalia said it might be the result of rising incomes in rural areas.

Ahluwalia listed energy, water, managing urbanisation and governance delivery as the key challenges in meeting the growth objective.

As for the current fiscal (2011-12), the last year of the 11th Five Year Plan, the Prime Minister's Economic