Can achieve growth targets of 12th plan: Montek Singh
Full Planning Commission has approved 12th Five Year Plan (2012-2017) document, said deputy chairman of the Planning Commission Montek Singh Ahluwalia. "Planning Commission has endorsed lowering gross domestic product (GDP) growth to 8.2 from 9% for 12th plan."
September 15, 2012 / 16:57 IST
Full Planning Commission has approved 12th Five Year Plan (2012-2017) document, said deputy chairman of the Planning Commission Montek Singh Ahluwalia. "Planning Commission has endorsed lowering gross domestic product (GDP) growth to 8.2 from 9% for 12th plan."
Don't miss: Growth target in 12th Five Year Plan cut to 8.2% from 9%Ahluwalia further said that growth since 2004 has improved significantly. “We can achieve growth targets of 12th Five Year Plan. We will achieve 8.2% growth, if agriculture grows at 4%,” he added.Priority, he said, is to invest more in health and education. “We need to make central sponsored schemes more flexible. States will have flexibility to use funds within guidelines,” he added.Commenting on the fiscal year 2013, Montek said, the economy should turn around in second half of FY13.”Finance Ministry, he said, needs to take measures to lift tax revenue to GDP ratio. “Subsidy needs to be targeted better.”According to him, even with 7% growth rate, India will be major investment destination. Also Read:
Diesel price hike a step in right direction: Prime Minister PM warns policy logjam could slow growth to 5% Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
