Planning Commission Deputy Chairman Montek Singh Ahluwalia today said that achieving an average GDP growth rate of 9 per cent in the next five years, 2012 to 2017, is not possible, because of the deteriorating global economic situation. Instead, he said GDP growth of 8 to 8.5 percent may be feasible. But he said this will require a major effort.

The Planning Commission Deputy Chairman further said that given that the world economy deteriorated very sharply over the last year, the growth rate in 2012-13 may be 6.5 to 7 per cent. He also indicated that he will share his view with other members of the Planning Commission to choose a final number for the economic growth target to put before the country's NDC for its approval.