India may not achieve 9 pc growth during 11th Five Year Plan: Maira

November 07, 2009 07:11 pm | Updated December 17, 2016 05:15 am IST - Mumbai

Arun Maira

Arun Maira

India may not achieve its growth target of nine per cent during the 11th Five Year Plan period as the economic slowdown and drought would likely take their toll, a senior Planning Commission member said.

“We set a growth target of 9-10 per cent for the 11th Plan. Though we began well in the first year (2007-08), the global meltdown impacted the growth rate in the second year and a drought this year will hamper it even more,” Planning Commission Member, Arun Maira, told reporters here.

The Commission might revise the growth target by this year-end and is likely to conduct a mid-term appraisal of the 11th Plan.

“Our economy is going through difficult period and the world economy will take a year more to recover from the global recession. The measures taken by the Government during the past eight months are aimed at a stronger economic performance,” he said.

Global recession and drought were unforeseen events that disrupted growth momentum and the cyclical nature of many sectors.

“We expect a strong rebound in the farm sector next year. But for the weak monsoon, the growth rate would certainly have been above seven per cent this fiscal,” Maira said.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.