Indian Prime Minister Manmohan Singh has said that the usual policies are no likely to deliver high growth rate during the coming years.

Dr. Singh described a five-year plan for average growth of 8 percent as "ambitious" and also said that new policies are required to ensure economic growth as usual policies are unlikely to deliver desired level of growth in the Indian economy.

The Indian economy has recorded a growth rate that is below 6 per cent, in recent quarters. The growth rate is much lower than the double digit growth expected in the pre crisis years before the 2008 global financial downturn.

According to estimates, the economic growth for the current fiscal year is expected to be between 5.7 and 5.9 percent, which is its slowest since 2002-03.

"I must emphasise, that achieving a target of 8 percent growth, following less than 6 percent in the first year, is still an ambitious target," said Dr. Singh He was speaking at a conference of chief ministers on the government's 2012-2017 economic plan.

As part of efforts to revive the economy and boost economic growth, the PM has taken some politically bold steps like increasing the price of subsidized diesel and opening certain sectors to FDI.

Experts have said that the government must launch more reform to boost economic growth in the country amid a global slowdown.