Economic deceleration will halt: President

Striking an optimistic note, President Pranab Mukherjee today expressed confidence that the "deceleration" of economy will halt but said the 12th Plan target of 9 per cent growth can be achieved only with several enabling factors, particularly education.
He said the country has core competence in the engineering sector and a number of steps have been taken to pep up the industry besides improving the quality and expanse of education.
"I believe the underlying growth impetus remains strong due to continued rise in per capita incomes, expanding middle-class consumers and a young and energetic workforce. Of course, stronger efforts from all stakeholders can build on this trend, and enable us secure faster growth," he said inaugurating the first Engineers Conclave, 2013 here.

Referring to the slowdown, he said, "Though India's economic growth has declined in recent times, I am confident we will be able to bring the deceleration to a halt and revert to the high growth levels that we attained in the past."
Mukherjee, who previously served as the Finance Minister, noted that the 12th Five Year Plan (2012-17) has envisaged a growth rate of 9 per cent per year and said "such scales of economic expansion need several enabling factors prominent among them being education."
Spelling out the measures that need to be taken to push the country on the path of growth, he said, "Innovation is a key managerial strategy for growth.