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NEW DELHI, Mar 11 (PTI): Warning that poor infrastructure came in the way of high growth, Asian Development Bank yesterday said economic reforms needed to be pushed further, especially in the power sector.
"Eight per cent growth is sustainable in the coming five years or more if infrastructure is improved and economic reforms are continued. The rate of growth can even be accelerated to 9-10 per cent," ADB president Haruhiko Kuroda told reporters at a press meet here.
He praised the budget for steps to contain fiscal and revenue deficits and said: "Prudent fiscal management is of basic requirement for further high growth."
On the government's massive investment plan in social sector, he said it is appropriate to achieve growth with equity.
With growth in economy, poverty is reducing but still there is a sizeable population living below poverty line, he said, adding that growth must be inclusive.
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