Nine percent growth not possible in 12th Plan: Montek
New Delhi, July 6 (IANS) It is not possible to achieve 9 percent economic growth during the 12th Five Year Plan period that began April 1, 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Friday.
"It is not possible to think of 9 percent growth. I think somewhere between 8 and 8.5 percent is feasible," Ahluwalia said when asked about the possible economic growth during the 12th Plan period (2012-17).
The approach paper for the 12th Five Year Plan (2012-17) approved by the panel led by Prime Minister Manmohan Singh has set a target of 9 percent average annual growth for the period.
Ahluwalia said even 8 percent growth would not be easy to achieve given the deteriorating global economic situation.
"When I say feasible, that will require major effort. If you don't do that, there is no god-given right to grow at 8 percent," Ahluwalia told reporters on the sidelines of an event organised by the Planning Commission here.
He said growth rate in 2012-13, the first year of the 12th Plan period, is likely to remain around 6.5 to 7 percent.
India's economic growth slumped to 6.5 percent in the financial year ended March 31, 2012, as compared to 8.4 percent in the previous year.
Read More: University Grants Commission (UGC) | Election Commission | Jiroli Hira Singh | Khera Narain Singh | J D Singh | Tharesa Jai Singh | Deputy Ganj Bulandshahr | Sekhupur Adhar Singh | Public Service Commission | Mohmand Pur Rai Singh | Saraiyan Mahipat Singh | Raipur Deo Singh | Majra Anand Singh | Piparia Mahipal Singh | Bahuarwa Gopi Singh | Yuvraj Singh Reincarnated | Virbhadra Singh | Manmohan Singh | Mahendra Singh Dhoni | Euro 2012
SHIKARA TREK BEGINS IN J&K AFTER 30 YEARS (NNIS Exclusive)
May 25, 2013 at 11:05 PM
CONG LEADER KILLED, PARTY CHIEF ABDUCTED IN NAXAL ATTACK IN CG
May 25, 2013 at 10:29 PM
SWAMY TO NNIS : CALL FOR BCCI CHIEF'S RESIGNATION IS ORCHESTRATED
May 25, 2013 at 9:46 PM