Uncertainty impacting India's growth: Planning Commn Dy Chmn

New Delhi, Dec 2 (PTI) With Parliament unable to enact several reform-linked legislations, India's Planning Commission Deputy Chairman Montek Singh Ahluwalia today said that political uncertainty in the country is impacting on growth. India's economy grew by 6.9 per cent during the July-September quarter of fiscal 2011-12, the slowest in the last nine quarters. Euro zone debt crisis and risk aversion by investors in the stock market have aggravated the sentiments. "Slowdown has occurred because of (low) investment expectations, because of political uncertainty and I think because of delay in implementing infrastructure projects...," Ahluwalia said at the annual Hindustan Times Leadership Summit here. However, the mood can change for better if some big infrastructure projects take off, he said. "...We should concentrate on (infrastructure projects) ...political mood will change within a period of time," Ahluwalia said. Earlier, addressing the meet, India's Finance Minister Pranab Mukherjee expressed his disappointment over the logjam in Parliament. "I am practically begging almost everybody that Parliament is essentially meant for making legislation.... Unless Parliament functions, it becomes very difficult. I request my colleagues that let us do legislation (in Parliament) and let us fight each other outside," he said. Nine day sittings of the on-going month-long winter session of India's Parliament have been washed away as the Opposition, supported by ruling UPA coalition partners Trinamool Congress and DMK, have paralysed the proceedings demanding a roll-back of the FDI decision in retail sector. Several important legislations which will enable foreign investment in the pension sector and a hike the FDI limit in the insurance to 49 per cent are pending approval of Parliament. Hindustan Times Leadership Summit is an annual event hosted by the Delhi-based HT group of newspapers. Leading national and international personalities are invited to take part in the meet. PTI