New Delhi: Minister of State for Finance Jayant Sinha said India needs to grow at 7-8 percent a year to create more job opportunities for young people and double the size of the economy in 10 years.
Sinha said at 15th Delhi Sustainable Development Summit, “We want to put India on sustainable non-inflationary growth trajectory of 7-8 percent growth. We need to have 7-8 percent growth to provide employment to young people that join workforce every year.”
He said, “7-8 percent growth will double size of economy in the next 10 years. For this we need to build our productive capacity, but also need to ensure that our growth is sustainable.” The minister also stressed upon need to protect the environment.
He said, “Climate change is real and significant challenge which every country is facing. So innovation for sustainability is true need of the hour.” A change in base year for computing national accounts has pushed up the economic growth rate for 2013-14 to 6.9 percent, while the earlier estimate on the basis of old series was 4.7 percent.
