Prime Minister Dr Manmohan Singh today cautioned that return to high economic growth should not be taken for granted. Dr Singh said the global environment is likely to remain difficult in the year ahead. Presiding over the meeting of the full Planning Commission in New Delhi, the prime minister said country's strengths can help to return to 9 per cent growth trajectory by 2011-12. <br/><br/>He said the mid-term appraisal of the 11th Plan brings out deficiencies in implementation of the schemes and these deficiencies need to be removed. The Prime Minister said that the country can expect a strong rebound in agriculture production, with a normal monsoon this year.<br/><br/>He said exports are likely to grow more slowly. Dr Singh said another source of demand to offset slow exports growth and that demand should ideally come from an expansion in investment in infrastructure, both in rural areas and the economy in general. <br/><br/>In his presentation, deputy chairman Montek Singh Ahluwalia said the average annual<br/>growth rate of the 11th Plan would be 8.1 per cent against the target of nine per cent. Mr Ahluwalia said growth in the next Plan period could be 9-10 per cent.<br/><br/>AIR correspondent reports the plan pannel meet reviewed the targets achieved so far under the 11th Five Year Plan (2007-12).<br/>
News On AIR | March 23, 2010 6:39 PM
Don't take return to high economic growth for granted, cautions PM