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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.

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