11th Plan growth target cut to 8.1 pc

The Commission expects the economy to expand by 8.5 per cent in 2010-11 and rise to 9 per cent in the terminal year of the Plan. After getting the full Planning Commissions clearance,the MTA document will be placed before the Cabinet and thereafter before the National Development Council NDC for final approval.

Headed by the Prime Minister,the full Planning Commission comprises key cabinet ministers,including Finance Minister Pranab Mukherjee and Agriculture and Food Minister Sharad Pawar,Deputy Chairman Montek Singh Ahluwalia and all the full-time members of the plan panel.

The Commission had set an average annual growth target of 9 per cent for the Eleventh Plan beginning with 8.5 per cent in the first year and closing with 10 per cent in the last year of the Plan period.

The MTA document said the economy exceeded expectations in the first year of the Eleventh Plan 2007-08with a growth rate of 9 per cent but the momentum was interrupted in 2008-09 because of the global financial crisis.