“In the medium to long-term, India remains firmly on a high GDP growth path of 8.5% to 9%. We, however, need to be alert and respond to emerging challenges and concern, in a timely manner to achieve our potential as a young and fast-growing nation,” finance minister Pranab Mukherjee told media persons
New Delhi: Amid sluggishness in the economy, finance minister Pranab Mukherjee on Monday exuded confidence that the country will maintain a high economic growth trajectory of 8.5% to 9% in the medium to long-term, reports PTI.
“In the medium to long-term, India remains firmly on a high gross domestic product (GDP) growth path of 8.5% to 9%. We, however, need to be alert and respond to emerging challenges and concern, in a timely manner as we make efforts to achieve our potential as a young and fast-growing nation,” Mr Mukherjee said while addressing the ADB-India partnership silver jubilee celebrations here.
Like many other countries, food security and volatility in prices has been a matter of concern for India, he said.
“We recognise that the increase in agriculture production on a sustainable basis is a long-term solution to the problems of availability as well as high and fluctuating food and commodity prices,” he said.
On infrastructure development, Mr Mukherjee said the sector is critical for enhancing productivity and sustaining the growth momentum.
“The 12th Five Year Plan (2012-2017) has an ambitious target of infrastructure investment estimated at $1 trillion,” he said.
Highlighting the role of ADB in the country’s infrastructure development, he said it has provided valuable and technical assistance in the public-private partnership for development of the sector.
“We need to further step-up the momentum of our collaboration in this important area, considering the huge investment need of the sector,” Mr Mukherjee said.
Achievement of an inclusive and environmentally sustainable growth also calls for support of alternate and renewable energy sources.
“We hope ADB’s assistance in developing clean and alternative sources of energy and technology to expand energy efficiency measures on all front would be scaled up,” Mr Mukherjee added.
There has been no production at MSI’s Manesar plant since the workers went on strike in October, while the company had shut the Gurgaon plant on 14th and 15th October as engines and transmissions supply has been severely hit by the strike at SPIL
New Delhi: The strike at Maruti Suzuki India’s (MSI) Manesar plant entered its 11th day today, with workers protesting outside the factory premises, but the company said it has resumed partial production at the plant.
The company also said production at its main plant at Gurgaon has been resumed after a two-day closure last week due to component supply constraints from Suzuki Powertrain India (SPIL), reports PTI.
Meanwhile, the Haryana labour department has called for a meeting today of the management and striking workers of MSI, SPIL and Suzuki Motorcycle India Pvt Ltd (SMIPL) to find a solution.
“Production has started in a limited way at the company’s plant in Manesar. To start with, the weld shop has been made operational,” a company spokesperson said.
The company resumed operations at Manesar with some of the trained workers from among those who have refused to join the strike, he added.
The Gurgaon plant has also begun normal operations.
Production at this plant will, however, depend on the supply of diesel engines and also transmissions from SPIL, the spokesperson said, adding that MSI models the like M800, Omni, Eeco and Gypsy are not dependent on component supply from SPIL.
There has been no production at MSI’s Manesar plant since the workers went on strike in October, while the company had shut the Gurgaon plant on 14th and 15th October as engines and transmissions supply has been severely hit by the strike at SPIL.
The workers of the car-maker have been on strike demanding the reinstatement of about 1,200 casual workers.
They are also demanding that 44 permanent workers who have been suspended after a settlement agreement signed on 1st October to end a 33-day-long standoff are taken back.
Workers at SPIL and SMIPL have also gone on strike in support of their colleagues at MSI’s Manesar plant workers.
“Workers at the three factories are on strike. We are protesting outside the factory premises as we have vacated the plant last week. We have been called for a meeting by the state labour department today,” Suzuki Motorcycle India Employees Union president Anil Kumar told PTI.
On Saturday, the striking workers at SPIL and SMIPL vacated factory premises following an order from the Haryana government. A day earlier, workers at MSI’s Manesar plant had also vacated the factory that they had occupied since 7th October following an order from the Punjab and Haryana High Court.
MSI said it has undertaken a thorough check of equipment and machinery since Friday night, when striking workers vacated the factory.
“In the press shop, some parts had been removed from the dies, rendering them non-operational. In the weld shop, the wiring cords of robots had been pulled apart. About 10 robots had been rendered non-operational. Operational settings of some machines had been tampered with,” the spokesperson said.
These have been repaired over the past 48 hours at the Manesar plant and the equipment has been made ready for the limited operations, he added.