Slowdown may impact social sector allocations: Plan panelMarch 2nd, 2009 - 6:06 pm ICT by IANS
Chennai, March 2 (IANS) The economic slowdown will impact allocations to social sectors in the 11th Five-Year Plan, said a top Planning Commission official here Monday.
“The allocations were proposed in the 11th Plan on the assumption that the economy would grow at 9 percent. The economic slowdown would impact on the government’s revenues, which might reduce the allocations to the social sectors,” Planning Commisssion member Abhijit Sen said.
In his address at a conference organised by the state chapter of the Confederation of Indian Industry (CII), Sen said: “The government accords priority for the social sectors and the XI Plan aims are inclusive growth.”
Releasing a vision document titled “Tamil Nadu@75 The 6 Transformational Ideas”, the economist said the state has achieved balanced growth in social as well as industrial sectors, as against some other Indian states excelling in either one or the other.
Said S. Ramasundaram, chairman and managing director of Tamil Nadu Industrial Development Corp: “We are looking at two locations - Hosur and Ennore - for locating an aerospace park in the state.”
According to him, the government is trying to improve air connectivity out of Madurai so as to attract investments that would spur industrialisation in the southern districts of Tamil Nadu.