Its a growth period for India: Montek

HYDERABAD: Brushing aside the worries of a global slowdown and inflationary concerns on domestic front, deputy chairman of Planning Commission Montek Singh Ahluwalia believes that India is on the path of growth and may last the race longer than China.“The per capita income is likely to double in the next nine years. A similar growth would have taken 45 years in the ’90s. This is an exciting period for India,” he said.In news for defending the poverty line of `32 per day for the urban poor in the country as adequate, Montek Singh buttressed his stand by saying, “The current poverty line in India is slightly higher than that of the global norms suggested by the World Bank (taking into account the purchasing power parity).It (poverty line) is a baseline for measuring the performance of the government.Pushing up the poverty line is not logical as it doesn’t provide a common reference point.” Speaking at the 17th convocation of Vignana Jyothi Institute of Management, Bachupalli, Montek Singh on Tuesday expressed the view that it was an exciting time to be in the field of management as the country's future looked positive.“India is in a growing zone and the integration of Indian markets with the rest of Asia will make the continent a financial power on par with the combined might of Europe and the US in 20 years time.” Emphasising the growthcentric goal of the UPA Government, he said India may have to import coal if the domestic supply falls short of the demand from thermal power plants in view of the growing energy needs.“The 12th Five Year Plan will also look at policies to survive in a world facing energy crisis,” he said. The deputy chairman stressed the importance of entrepreneurship and the role played by venture capitalists in creating an ecosystem supportive of innovation through government policies.Encouraging the outgoing graduates, Montek Singh said, "In a world of rapidly changing technology, youth will be at a premium for their skills and will learn over age and experience.” The institute awarded 132 post graduate diplomas in management on the occasion.Of the current batch of students, 14 aim to realise their dreams by choosing entrepreneurship.