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Planning Commission begins mid-term review meeting

Sujay Mehdudia

— Photo: V. Sudershan

Deputy Chairman of the Planning Commission Montek Singh Ahluwalia chairs the mid-term review meeting of the commission in New Delhi on Wednesday.

NEW DELHI: The Planning Commission began its Mid-Term Review meeting of the 11th Plan on Wednesday, aiming to moderate the nine per cent growth target for the next five-year period in view of the global economic slowdown and recession.

“We will have to moderate the growth target. It would not be possible to achieve the overall growth target of nine per cent during 2007-12. We hope that the Mid-Term Review (document) of the 11th Plan would be available before the next Budget is presented,” Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters after the meeting.

“We intend that whatever comes out of the Mid-Term Review, whatever mid-course corrections may be needed, whatever consequences of re-prioritisation that has already taken place, get properly reflected in the next Budget,” Mr. Ahluwalia said.

The 11th Plan had set an average economic growth target of nine per cent for 2007-12.

Although the economy during 2007-08 grew by nine per cent, growth plummeted to 6.7 percent during 2008-09 on account of the impact of the global financial crisis.

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