Sustained annual growth rate of 6-6.5% possible: Pant

  • 18/11/2003

  • Pioneer (New Delhi)

India and China are potential future market drivers for the world economy and a slowdown in their growth will eventually have repercussions on the pace of growth and stability of the world economic system, said Mr K C Pant, Deputy Chairman of the Planning Commission. He was delivering an address on the Indian economy at the Centre for Strategic and International Studies in Washington DC. Mr Pant predicted that with a domestic savings rate of above 24 per cent of GDP and non-aid capital flows of nearly two per cent of GDP, a sustained annual growth rate between 6 and 6.5 per cent was a possibility.