India needs growth rate of 9 pc to eliminate poverty: Prez

President Pranab Mukherjee today said India will have to raise its growth rate to 8.5-9 per cent annually for the next 15-20 years in order to ensure that poverty is totally eliminated and is not just confined to being alleviated.
He made these comments while interacting with a group of trainee officers from the Indian Economic Service 2014 at Rashtrapati Bhavan here today.
Addressing the trainees, the President said he is proud of what India has achieved and was optimistic about what it can achieve.
"Indian economy has witnessed many ups and downs. From 1951 to 1979, India had an average growth rate of 3.5 per cent which was called the Hindu growth rate. Our economy grew at an average rate of 5 to 5.6 per cent in the 80s. From 1991 onwards, our growth rate rose to an average of 7 per cent.

"Our present growth rate is around 7.6 per cent. But we should not be complacent. We must raise our growth rate to 8.5 to 9 per cent annually for the next 15-20 years if we have to achieve our developmental goals. This will enable poverty elimination and not confine us to poverty alleviation," he said.
Mukherjee told the young officers that expectations from them are high and a big responsibility rests on their young shoulders.

"The world is moving fast and India has to keep pace. The time available is short but India's strength is its mighty minds. India needs competent and knowledgeable officials to guide policy making," he said.

The President told the trainees the service they have joined provides them opportunity to serve the people and country for many years and that they will also have to advise the political executive in policy formulation.
"The Chief Economic Advisor post is generally held by an accomplished economist. The Economic Survey is a highly admired document for its clarity of thought and objectivity," he said.
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Earlier, the President reviewed the impressive parade commanded by Academy Under Officer Varun Singh Chauhan.
Notably, this was the third time in the 53-year-old history of Officers Training Academy in Chennai that the Supreme Commander of Indian Armed Forces was reviewing the parade.

A total of 269 Officer Cadets, including 217 Gentleman cadets and 32 Lady cadets, 19 Gentleman cadets and one lady cadet from the friendly nations including Afghanistan, Bhutan, Lesotho and Fiji were commissioned as officers following completion of a vigorous training course at the OTA.
Mukherjee gave away the coveted "Sword of Honour" for the best all-round gentlemen/Lady Cadet of the passing out course to AUO Varun Singh Chauhan.
The gold medal for standing first in Order of Merit was awarded to Battalion Under Officer Alla Shridhar. The silver medal was awarded to Academy Cadet Adjutant Divya Tyagi and the bronze medal was awarded to BUO Rakesh TR.

The banner for Champion Company was awarded to Mektila Company.
The Officer Cadets were piped as officers by their parents and the event was followed by an oath taking ceremony and the National Anthem.
The President briefly interacted with the cadets and their parents after the ceremony.