India to achieve 7.2 per cent GDP

Forecasting 7.2 per cent GDP growth for the current fiscal, industry chamber CII stressed on sustainable development for alleviating poverty and employment generation in the country.

"India need high rate of sustained growth to alleviate poverty, increase living standards and reduce differentiation. To achieve this we need to look at our growth with an eye on long term sustainability," newly elected CII president YC Deveshwar told reporters.

He said in the current fiscal CII expects India to grow at 7.2 per cent, with the agriculture sector projected to achieve 3 per cent growth, while industry and services are pitched to witness 8.1 per cent and 8.3 per cent respectively. "Sustainability would be the new dimension of CII's work on competitiveness across all sectors, including agriculture, manufacturing and services," he said.

CII's focus for sustainable development would be on employment and employability, rural economy, infrastructure, nurturing and renewing social capital and governance, he added. Commenting on employment generation, Deveshwar said while focussing on sectors which are employment intensive are necessary, it was equally imperative to focus on sectors which are not employment intensive by itself but its forward and backward linkages are employment intensive.

PTI