India to set 9 percent growth target for next five year plan (Lead)

August 19th, 2011 - 7:34 pm ICT by IANS  

Manmohan Singh New Delhi, Aug 19 (IANS) India is likely to set a target of 9 percent economic growth during the 12th Five Year Plan, that runs from 2012-13 to 2116-17, when Prime Minister Manmohan Singh chairs a meeting of the full Planning Commission here Saturday.

“We are in favour of choosing a 9 percent economic growth,” Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here, ahead of the meeting, called to consider the approach paper of the next five year plan.

The prime minister is the plan panel’s chairman.

According to Ahluwalia, the current fiscal ending March next year, was likely to see a growth of over 8 percent in gross domestic product (GDP), as against 8.5 percent registered during the previous fiscal.

Ahluwalia said the plan panel would target 4 percent growth in agriculture sector during the next five year plan as against an estimated around 3 percent growth during the current plan period.

“Given the current economic scenario, some people may question our growth target of over 9 percent,” said Ahluwalia adding that the plan panel was confident of achieving over 9 percent growth during the next five years.

He said healthcare would be given top priority during the coming plan.

Once the full plan panel okays the draft of the 12th five year plan, it would be sent to the federal cabinet and eventually to the National Development Council for approval.

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