India’s double-digit growth ambitions fade

NEW DELHI, April 24, 2011 (AFP) - India's dreams of attaining double-digit economic growth within the next few years are fading, undermined by high inflation, slow progress on reforms and an uncertain global outlook.
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While hundreds of millions of Indians are still mired in poverty, the step-change in growth has transformed living standards for many millions of others and "remains the most compelling story of our times", said Business Standard publisher T.
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N. Ninan in a weekend column. The ruling Congress party has long wanted to make history as the administration which ushered in growth of 10 percent -- touted by successive governments as vital to significantly reduce crushing poverty.
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But India's main economic planning body looks set to row back on the goal of double-digit expansion when it fixes the country's five-year economic, social and other goals to 2017.

Setting a target of 10 percent average growth "for the next five years is not feasible", Planning Commission deputy chairman Montek Singh Ahluwalia admitted late last week, citing inflation, a need to jump-start reforms and an "international situation full of uncertainty".

However, Ahluwalia said nine percent was a realistic target as the coun

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