Growth to accelerate after 3 months: Montek

India can achieve 9 per cent growth in 12th Five-Year plan if scarcity in the key sectors of infrastructure and energy is addressed through big investment, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Friday.

He said the economic downturn is expected to be over, and inflation brought under control, in about three months, and added, "Nine per cent economic growth target is very much achievable during the 12th Plan if these challenges are addressed."

"There is nothing to suggest that 9 per cent GDP growth is not achievable if we do what is necessary. We need to do a lot to raise productivity and remove impediments and constraints," he said while delivering Foundation Day Lecture of aluminium giant NALCO here.

Describing infrastructure as the key to spurring the economy, Ahluwalia said both central and state governments need to take concrete steps to strengthen roads, transport and energy sectors which still remain considerably weak.

Stating that infrastructure requires huge funds, he said that substantial investment could be ensured through PPP projects. "India has the second largest number of PPP projects as per a data," he said.

In order to achieve 9 per cent growth, India must attain 6.5 per cent growth in total energy, Ahluwalia said, adding that electricity is already scarce and to boost economic growth power demands would rise further.

Voicing concern over losses being incurred by power distribution companies, Ahluwalia said state electricity regulatory commissions must be allowed to function freely.