12th five year plan of the government of India (2012-2017) is under drafting which aims at one direction will help doing so the growth rate at 9.56%
With the deteriorating global situation, the deputy chairman of the planning commission Montek Singh Ahluwalia has said that achieving an average growth rate of 9% in the next 5 years is not possible.The final growth target has been set at 9%by the endorsement of plan at the National Development Council(NDC) meeting held in New Delhi.
It is not possible to think that of an average of 9% in 12th plan. I think somewhere between 8 and 8.5% is feasible", Ahluwalia said on the sidelines of a conference of State Planning Boards and departments. The approachedpaper for the 12th plan, approved last year, talked about an annual averagegrowth raye of 9%.
When i say feasable that will recquire major effort. If you don't do that, there is no god given right to grow at 8%.I think given that the world economy deteriorated very sharply over the last year the growth rate in the first year of the 12th plan (2012-2013)is 6.5 to 7 percent.
He also indicated that soon he would share his views with other members of the commission to choose a final number (economic growth target) to put before the country's NDCfor its approval.
