India's Five Year Plan Calls for Double-digit Growth
Next five year plan to aim at double-digit growth April 19, 2011 [India] India will focus on infrastructure in the 12th iteration of its five-year plan. The goal is to achieve double-digit growth, especially since the infrastructure deficit is costing the country two-percentage points in GDP. In the 2009-2010 period, India recorded 8% growth. The Prime Minister has estimated that India will need US$1tn in infrastructure investment and that there is need for a “major overhaul of the policies and procedures to be able to attract such quantum of funds.”
Implications from IFTF:
This is an interesting contrast to China's five-year plan, which explicitly calls for less economic growth and instead prioritizes rebalancing. Overhauling policy to "be able to attract such quantum of funds" may be code for stripping regulation.
Sources:Intellecap May 2011 page 12: