Prime Minister Manmohan Singh on Saturday said the country must strive to reach 9 per cent growth by the end of the 12th plan period.
Here are the highlights of the Prime Minister’s speech at the Planning Commission:
- Economy grew at 7.9 per cent in the 11th plan period
- The economy grew at an average annual rate of 7.9 percent despite two global crises.
- Poverty declined twice as fast between 2004-05 and 2009-10 than it did in the previous ten years.
- Agriculture grew at 3.3 percent per year in the Eleventh Plan, much faster than the 2.4 percent observed in the Tenth Plan.
- 12th plan is starting in year when world is experiencing difficulties
- Plan targets overall Economic Growth at 8.2% with the agricultural growth at 4%.
- Have to reach 9 per cent growth by the end of the plan period
- Growth to accelerate to 8.2% over 12th plan
- Fiscal deficit too high
- Health, education – priority sectors for inclusive growth
- Agricultural growth at 3.3%
- Manufacturing must grow faster
- Infra needs public investment and PPP
- Energy difficult area – policy needs comprehensive review
- We are energy deficient.
- Rational energy pricing very critical
- Energy pricing out of line with world prices
- Diesel price hike important step in right direction
- Urbanization new challenge
- Central message of plan – need policies that take care of weaknesses