Euro crisis to hit India’s growth rate

Chennai:

The European economic crisis will have a impact on India and the country will not be able to attain eight per cent growth rate, said deputy chairman of planning commission Montek Singh Ahluwalia.

Speaking to reporters after delivering the V Sankar Aiyar Memorial Lecture, he said India will be affected by the global economy slowdown and the eight per cent growth target will be affected.

However, if the global economy stabilizes by the end of the financial year, the XII plan will have a growth target of nine per cent, he added.