The prospects for the Indian economy this year will be influenced by the behaviour of the monsoon and expansion of commerce and trade. The Tenth Plan has envisaged the growth target of 8%. If the agriculture sector does well and the world trade conditions improve, then it is possible to achieve a growth of 6-7 percent. We need to improve our economy and aim at higher rate of growth in order to feed our population, maintain the standard of living and improve the quality of life. It is now more than 10 years we adopted reforms. We need to go forward in liberalisation but we cannot throw open the market for everything. There are sectors like village industries which need protection.

The economic growth last year was below 6 percent.