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Targeting 8.2% growth in 12th Five-year Plan, says Montek Singh Ahluwalia

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The Planning Commission met with the Prime Minister and approved the document for the 12th Five-year plan. Here are highlights of Montek Singh Ahluwalia, Deputy Chairman of Planning Commission's speech.

 

  • Plan Panel to revise draft document to include suggestions made at the meet
  • It is vital to achieve 8.2% growth in 12th Plan
  • It is realistic to achieve 8.2% in 12th Plan
  • We have got a reasonable growth of 7.9% in the 11th plan
  • 12th Plan building on better growth
  • Post 2004 economy's performance has improved
  • Several Plan Panel members and Cabinet Ministers emphasised on the thrust on infrastructure
  • Infra development imperative for inclusive growth
  • Growth might slip to 5% on policy logjam
  • Agri growth target to be 4% in 12th plan               
  • Manufacturing growth target to be 10% in 12th plan
  • Infra investment to be close to $1 trn
  • Current account deficit pegged at 2.9%
  • 12th plan building on better growth
  • Economic performance has improved post 2004
  • PM to personally monitor infra progress
  • Power another area of focus and concern
  • Fuel availability for power sector, manufacturing key for growth
  • Govt to rationalise/reform Centrally Sponsored Schemes
  • State-specific guidelines to be issues for Centrally Sponsored Schemes 
  • Changes to be made to Plan document by next week 
  • Document to go for Cabinet nod soon 
  • We are not talking of removing PDS
  • It is easier to track cash transfers
  • Meet emphasised on setting up National Investment Authority under PM to approve large projects
  • Authority to improve implementation of projects 
  • Fiscal deficit has to be brought under control 
  • Agree with what FM's views are on Fiscal deficit 
  • Inflation is a problem and it will be controlled 
  • Medium term fiscal consolidation is important when it comes to addressing fiscal deficit 
  • Tax to GDP ratio in the past 3 years had slipped 
  • Plan panel's views on fiscal deficit in line with FM's 
  • Crucial to get 3-4 % point higher investments 
  • Implementation bottlenecks has to be removed
  • Institutional mechanisms are being put in place for this

Story first published on: September 15, 2012 15:19 (IST)

Tags: Montek Singh Ahluwalia, Planning Commission, 12th five year plan


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