India to remain on 8.5 per to 9 per cent growth trajectory: Mukherjee

India would remain firmly on a growth path of 8.5 per cent to 9 per cent in the medium to long- run, the finance minister, Pranab Mukherjee, said today. However, he added a note of caution.

Speaking at a function to mark 25 years of India-Asian Development Bank (ADB) partnership in New Delhi today Mukherjee said, ''We need to be alert and respond to the emerging challenges and concerns in a timely manner, as we make efforts to achieve our potential as a young fast-growing nation.''

He urged the bank to step up the momentum of collaboration, even as it kept the ambitious target of $1-trillion investment for infrastructure during the 12th Plan in mind.

He also sought assistance from the bank for development of clean and alternative sources of energy and technologies to enhance energy-efficiency measures.

Expressing concern over food security and volatility in prices, Mukherjee said,  ''We recognise that increase in agricultural production on a sustainable basis is the only long-term solution to the problems of availability as well as high and fluctuating food and commodity prices.''

Terming ADB as 'Knowledge Bank', he called on it to cover new ground through study and research and how Asian countries could help harness skills and innovations for sustaining growth. He urged the bank to study the role of protection schemes and how these could be designed for better integration into an inclusive development agenda.