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NDC targets 9% growth in 12th Plan

Last Updated: Sunday, October 23, 2011 - 09:19

New Delhi: The National Development Council, the country's highest decision-making body, Saturday set 9 percent growth target for the 12th Plan despite slowing economy amidst concerns of double dip global recession.

Presiding over the day-long meeting, Prime Minister Manmohan Singh said problems in the current year are short-term in nature. "...current slowdown is a matter of concern but it should be seen as a short-term phenomenon", he added.

India is regarded as one of the fastest growing emerging markets. Even as the growth targets are being revised downward in all countries for the current year, "we must guard against the mood of negativism that seems to have gripped the country," he added.

He said the government has a role in ensuring good governance with transparency and effective enforcement of the rule of law. It also needs to ensure that "every citizen must
have access to essential public services of acceptable quality in health, drinking water and sanitation".

On concerns that Centre was being discriminatory against developed states, Singh said, "it is a perception and not based on reality."

Finance Minister Pranab Mukherjee urged Chief Ministers to shun populism to help country move on the path of reforms.

"As politicians we like to win elections...But our own election victory must never take precedence over India's victory. I say this because there are several important reforms which need legislative action...", Mukherjee said.

He listed the pending reforms which include introduction of Goods and Services Tax and the Direct Taxes Code.


First Published: Saturday, October 22, 2011 - 20:29
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