11th Plan targets over 8% growth

11th Plan targets over 8% growth

By agencies   |   Tuesday, 27 December 2005, 08:00 Hrs
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NEW DELHI: Having overshot a November deadline set by Prime Minister Manmohan Singh, the Approach Paper for the 11th Five-Year Plan, which is expected to peg GDP growth rate at over 8 percent, is now expected to be ready only by sometime next month.

The Prime Minister wanted the approach paper, which would spell out guidelines including the growth rate for the 11th Plan (2007-12), to be ready in November.

He had also wanted the paper to be placed before the Cabinet for its approval this month, before it was taken up by the National Development Council in January next year for final nod.

Singh had said this in his address in the 51st meeting of the NDC in June this year. "It is going to take time. We are working on it. (Planning Commission) Member Kirit Parekh is preparing the draft," Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

"We are also looking at aiming for higher than 8 percent growth in the 11th Plan. Prime Minister is talking of a 10 percent growth and I personally feel this is feasible if manufacturing and services sector grow rapidly in double digit," he said.

Development of infrastructure, agriculture sector growth and private investments would also play a significant role in determining the growth rate for the 11th Plan period, he added.

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