December 26, 2012 / 10:12 AM / in 5 years

India should aim 8 percent avg growth between 2012 and 2017 - Montek

An Indian labourer walks back to his house after working at a construction site in Chandigarh November 29, 2005. REUTERS/Ajay Verma/Files

NEW DELHI (Reuters) - India should aim for an 8 percent average economic growth over the next five years beginning April 2012, Montek Singh Ahluwalia, deputy chairman of the planning commission, said on Wednesday.

He said mounting uncertainties in the global economy have increased risks to India’s economic growth.

“There is merit in being realistic,” he said.

India’s economy is battling its worst slowdown in a decade. Economic growth for the current fiscal year that ends in March is forecast to be 5.7-5.9 percent, the slowest since 2002/03.

Reporting by Arup Roychoudhury; Editing by Subhranshu Sahu

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