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Plan Panel may amend 11th Five-Year Plan goals

Source: PTI
March 26, 2009 13:35 IST
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The Planning Commission may go for a correction in the 11th Five Year Plan targets as it gears up for mid-term assessment of goals next year in view of the global financial meltdown's impact on the economy.

"...some moderation may be required (in the 11th Five Year plan targets) because we lost two years or one-and-half years of growth due to slowdown," Planning Commission Member Kirit Parikh told PTI on the sidelines of CNBC-Essar Steel infrastructure awards.

"We have a tradition of taking a mid-term plan review which is due next year," he said adding, "I don't think there will be a radical overhaul."

Talking about the country's growth rate in present fiscal, which has been hit by the economic downturn, Parikh exuded confidence in achieving over six per cent growth rate which could further grow by additional one per cent on account of the stimulus measures taken by the government.

"At least get 6.3 per cent (GDP) is very much possible this year. If we take appropriate measures the GDP can go up by 1.1 per cent to 7.4 per cent in the next fiscal."

The government had announced stimulus measures - in December and January, to boost the economy reeling under the impact of slowdown.

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