Industry & Economy
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Economy
`Three-fold strategy likely to raise GDP growth'
Our Bureau
Mr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission
New Delhi
,
Dec 25
THE Government is planning a three-fold strategy of removing the critical policy constraints on agricultural growth, quality of physical infrastructure, and improving the fiscal strength of the Centre and States.
This is being done to raise the GDP growth levels to eight per cent plus in the 11th Plan period (2007-12), said the Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia.
He was addressing a special session on the occasion of the 78th AGM of FICCI.
Based on the assessment of the mid-term appraisal of the 10th Plan, it was reasonable to expect a 7.5 per cent growth and the overall surmise was that in the 11th Plan, the economy could do even better and clock eight per cent plus growth with a conducive policy architecture, Mr Ahluwalia said. A turnaround in agriculture production growth from two per cent recorded since 1997 to four per cent annually was a sine qua non for inclusive growth, he added. The National Development Council, the highest policy-making body of the Government, has set up a committee under the chairmanship of the Agriculture Minister to break up the agriculture growth strategies into components.
These would be discussed in detail with the States and the final policy will be included into the architecture of the 11th Plan, he added.
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