Montek Singh Ahluwalia stresses on inclusive growth to reduce poverty

Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia on Saturday that there is a need to lay emphasis on eight percent inclusive growth, with an aim to reduce poverty, and to create an impact on the overall growth.

"If we don't get back to eight percent growth, there is no serious possibility of reducing poverty, but getting back to eight percent inclusive growth, is the central part of the strategy if you want to make an impact on growth," he said.

He also said that India should be open to new technology to overcome energy and water crisis.

"To overcome our energy problems, to overcome our water problems, it is not possible if we continue with existing technology and put more money into it. Technologies will evolve, and those new technologies will be energy efficient, water efficient. In order to do that we need to be open to new technology," he added.

Earlier on November 7, rating agency Standard and Poor said that it will review India's rating, once a new government lays out its policy agenda, reducing the prospect of a destabilising downgrade to below investment grade ahead of the polls.

The agency also said it may revise India's outlook back to 'stable' from the current 'negative', should a new government have an agenda to restore growth, improve finances, or allow the implementation of an effective monetary policy.