Why Native indian needs 9% growth overall???

INDIA: India's per household earnings can reach levels of $8000-10,000 by 2025 from the present $1600 if the financial climate grows at 9 % yearly, Chair of Prime Minister's Economic Advisory Authorities C Rangarajan said on Saturday.
"As we look ahead, development is an essential aspect in generating employment and reducing poverty", Rangarajan said in his address at the First Yearly Convocation of the Native indian Institution of technological advancement, Hyderabad (IITH).

He said technological advancement can play a significant part in almost every sector of the financial climate in enhancing efficiency and production.
"It has been approximated that only if we grow at 9 Per dollar yearly, India's [Images ] per household GDP will increase from the present stage of $1,600 to $8,000-10,000 by 2025," he added.
India will become part of the middle earnings group of countries when it defines $8000-$10,000 per household earnings, he said.
Achieving and retaining maximum development requires activity on several methodologies, he said adding technological advancement upgradation is one among them.
The financial consultant said the Native indian financial climate is currently passing through a difficult stage with development having stunted down and blowing up staying great.
The financial and present account failures also stand at advanced stage, he said.
"These issues need to be resolved, if we have to achieve a continual great amount of development.
"However, these improvements should not reasoning the fact that over the seven year period beginning 2005-06, the average annual amount of development has been 8.3 %," he said.
Rangarajan said Native indian needs to advance a plan structure which motivates advancement and diffusion.
This will need activity on several methodologies and attention to the overall macro-economic plan structure.
It will also need "R & D efforts by individual firms, oblique and direct tasks of govt and govt provided organizations in assisting advancement and diffusion, recognition of areas/industries to be given priority, and the part of Colleges and scientific institutions".