Need stable govt to get back to higher growth rates: Gopalakrishnan

The new CII president and co-founder of Infosys,Kris Gopalakrishnan expects the country’s GDP to grow between 6 and 6.4 per cent in 2013-14.

Written by ENS Economic Bureau | Mumbai | Published: April 30, 2013 3:00:19 am

The new CII president and co-founder of Infosys,Kris Gopalakrishnan expects the country’s GDP to grow between 6 and 6.4 per cent in 2013-14 .

Adding that it would be difficult to achieve an average growth rate of 8 per cent in the 12th Plan period,Gopalakrishnan highlighted the need for a stable government to get back to higher growth rates.

He,however,showed his concern on the political development in the country and said that CII is meeting the Central government,other political parties and state government to impress upon them the reform agenda that they think are important.

“What we need is a stable functioning government and if we have that we will get our growth rate back,” said Gopalakrishnan,adding that CII wants the reform agenda to go forward in parliament.

He said that if the political uncertainty prevails and the reform agenda is not carried forward,economic growth,jobs and wealth creation will get impacted.

He said that the Land Acquisition Bill is very important because the industry growth requires land. “I am hoping that it will be passed,” said Gopalakrishnan.

The CII president said that there should be easy monetary policy and that there is a need to push for investments and also consumption demand.

Gopalakrishnan also said that CII has proposed the government to revive at least 50 stalled projects.

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