11th Plan target cannot be met, says Plan panel

The panel,  in its Current Economic Outlook (CEO) circulated at its full meeting held here, said an average growth rate of around 7.8 per cent should be considered remarkable achievement given the unfavourable external developments that have characterised this period,” it said.

“However, global economic and financial crises inevitably led to a temporary dislocation of our growth trajectory reducing the rate of growth to 6.7 per cent in 2008-09,” it noted.    
It is likely to be still lower at about 6.3 per cent in 2009-10 because of continuing impact of global slowdown compounded by additional impact of a weak monsoon.

“If investment can be pushed up significantly, especially investments in power and other infrastructure, overall growth rate in last year of Eleventh Plan 2011-12 could reach 9 per cent,” the report said.

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