February 10, 2010 1:50 PM

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Economy will grow beyond 7.2 per cent in current fiscal: Pranab

Government says that Indian Economy will grow more than 7.2 per cent in the current fiscal. It has been projected to grow at 7.5 per cent in the economic survey last year and may touch 7.9 per cent after final figures are available. <br/><br/>Talking to reporters after inaugurating the 40 second Consultative Committee meeting of Colombo Plan in New Delhi on Wednesday, the Finance Minister Mr. Pranab Mukherjee said that the growth momentum has picked up and it can go to higher levels after fully leveraging the demographic dividend.<br/><br/>Addressing the inaugural session of the meeting, the Finance Minister said that the government will keep this momentum going by infusing and sustaining large investments in infrastructure in a environmentally sustainable manner. This he said requires follow up capital and institutional building.<br/><br/>Mr. Pranab Mukherjee said for accelerating growth constraints in the infrastructure sector need to be addressed. He said Indian requires 514 billion US dollars in the infrastructure sector in the current plan and this can be mobilized only through private public partnership.<br/><br/>He asserted a number of majors are being taken to create a congenial atmosphere for fostering this partnership.<br/><br/>Currently there four hundred fifteen private public partnership project being implemented in various parts of the country at an estimated cost of around 48 billion dollars.<br/>Addressing the function the Secretary General of Colombo Plan Consultative Committee Dato Patricia YM Chia said that South Cooperation has garnered support for the plan for emerging donor member countries. She said that the group is making smart partnership for the benefit of all partners particularly those who are poor.

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