India Initializes Plan to Boost Economy

According to shipping minister GK Vasan, the Indian government has come up with a plan to boost its country’s economy after its most recent slide, with the help of the infrastructure sector.

“Lately, sustainability of a high growth rate has been a subject of much discussion, especially in the wake of the 2011-12 GDP growth rate falling to 6.5%, which was the lowest in the last nine years,” he said.

Still, for the global situation, 6.5% isn’t too bad.

“Notwithstanding the current dip in growth rate, the economy is expected to bounce back and resume its high growth trajectory. We need to either ride the tide when the economic growth is high, or invest to spur the growth itself. We need to seize this moment,” he said.