New Delhi,Oct 18 (UNI) Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the Eleventh Plan (2007-11) will target a GDP growth rate of nine per cent per annum with emphasis on achieving inclusivness by giving thrust to agriculture, social sectors and infrastructure and a suitable policy framework has been worked out in this regard.
"It will be a combination of policy and money. To achieve a nine per cent growth rate in the next plan certain hard decision would need to be taken", Dr Ahluwalia said addressing a Press Conference after a meeting of the full plan panel to approve the Approach Paper to the Eleventh Plan.
The meeting, which took place in Yojna Bhavan this evening, approved the Approach document and Dr Ahluwalia said it would now be prepared for the meeting of the National Development Council(NDC) scheduled for early December.
Prime Minister Manmohan Singh, who chaired the meeting, said the growth rate would be as high as ten per cent in the final years of the Eleventh Plan. The Prime Minister made out a strong case for larger plan outlay for the next plan not only in absolute terms, but also as a proportion to GDP.
Dr Manmohan Singh, who is also the Chairman of the Planning Comission, unveiled an ambitious infrastructure programme involving a figure if Rs 14 lakh crores by 2012 for modernising ports, airports, roads, railways and power.
He, however, said fiscal prudence must be strictly adhered to and said to achieve inclusive growth emphasis would need to be given to sectors like education and health.
Giving an instance of 'hard decisions,' Dr Ahluwalia said it would be necessary to weed out unproductive schemes.
The Paper estimates that the Gross Budgetary Support for the Plan (Centre and States combined) will have to increase by 2.5 percentage points of GDP above the Tenth plan period, which can be achieved through higher tax collections and rationalisation of non-Plan expenditure.
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"It will be a combination of policy and money. To achieve a nine per cent growth rate in the next plan certain hard decision would need to be taken", Dr Ahluwalia said addressing a Press Conference after a meeting of the full plan panel to approve the Approach Paper to the Eleventh Plan.
The meeting, which took place in Yojna Bhavan this evening, approved the Approach document and Dr Ahluwalia said it would now be prepared for the meeting of the National Development Council(NDC) scheduled for early December.
Prime Minister Manmohan Singh, who chaired the meeting, said the growth rate would be as high as ten per cent in the final years of the Eleventh Plan. The Prime Minister made out a strong case for larger plan outlay for the next plan not only in absolute terms, but also as a proportion to GDP.
Dr Manmohan Singh, who is also the Chairman of the Planning Comission, unveiled an ambitious infrastructure programme involving a figure if Rs 14 lakh crores by 2012 for modernising ports, airports, roads, railways and power.
He, however, said fiscal prudence must be strictly adhered to and said to achieve inclusive growth emphasis would need to be given to sectors like education and health.
Giving an instance of 'hard decisions,' Dr Ahluwalia said it would be necessary to weed out unproductive schemes.
The Paper estimates that the Gross Budgetary Support for the Plan (Centre and States combined) will have to increase by 2.5 percentage points of GDP above the Tenth plan period, which can be achieved through higher tax collections and rationalisation of non-Plan expenditure.
MORE UNI GS KR VV2028
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