|
|
|
|
|
6th Zulqada 1435 | Monday, Sep 01, 2014
Business

Plan panel for lowering growth target in 12th Plan to 8%

Wednesday, 26 December 2012
Comments(0)
New Delhi, December 26:

The Planning Commission will pitch for lowering the average annual growth rate for the 12th Five Year Plan to 8 percent, from 8.2 percent at the meeting of the National Development Council (NDC) here on Thursday.

"Our objective is that we should be going in for a more optimistic scenario ... And probably if we reflect, what we now know (is that) instead of 8.2 per cent, it would be better to pitch it at 8 percent.

"I would raise that issue in the NDC," Planning Commission Deputy Chairman Montek Singh Ahluwalia said here.

This lowering of growth target, he added, follows changes in the global and domestic economy since the approval of the Approach Paper by the NDC in October last year.

This is the second time that the Planning Commission will be scaling down the growth projection for the 12th Plan (2012-17).

After initially estimating the growth rate at 9 percent in its Approach Paper, it lowered the target to 8.2 percent in September 2012 in view of global economic worries and persistent sluggishness in domestic growth.

The issue will be considered tomorrow by the country's highest policy making body NDC, which is headed by Prime Minister Manmohan Singh and comprises Cabinet Ministers and Chief Ministers of all states.

In the 11th Five Year Plan, the average annual growth rate was 7.9 percent.

For the current fiscal, which would be the first year of the 12th Plan, the growth rate has been estimated at 5.7-5.9 percent, which would be the lowest in the last decade.

PTI

Latest News

Ebola: Six 'high risk' passenger...

Six people deemed "high risk" Ebola suspects were today admitted to a quarantine facility at Delhi airport, health ministry said on Monday. ...

Sonia, Congress leaders attack Modi over p...

Sonia Gandhi on Monday led the Congress attack against Narendra Modi government and flagged the issue of price rise as her party slammed bot ...

Heavy showers in Mumbai; MeT predicts more...

With heavy rains lashing the city for second consecutive day today, the MeT department has predicted that the monsoon is likely to get stron ...

Related News

UP sugar mills reject state government aid and conditions

Beleaguered private sugar mills in Uttar Pradesh Monday rejected the assistance of Rs.6 per quintal ...

US-based kitchen appliance brand Hamilton Beach has forayed into the Indian market through a distrib ...

New textile policy to be announced soon: Santosh Kumar Gangawar

The Union government would soon come out with a national textile policy, Minister of State for Texti ...

Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

Rs. 27620 (Per 10g)

Opinion Poll
Do you think KCR would continue celebrating all national events at Golconda Fort beginning from Independence Day?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com