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Growth target for 10th plan to stay: Pant
The Planning Commission on Thursday announced that it would stick to the target of eight per cent economic growth for the tenth five-year plan (2002-07), despite the adverse impact of the current international developments, which it would monitor and suggest corrective steps.
The Planning Commission on Thursday announced that it would stick to the target of eight per cent economic growth for the tenth five-year plan (2002-07), despite the adverse impact of the current international developments, which it would monitor and suggest corrective steps.
“We are sticking to the eight per cent growth target'' set in the Tenth Plan approach paper adopted recently at the National Development Council, commission deputy chairman K C Pant told the Economic Editors' Conference.
“We shall of course be watching the situation and the Tenth Plan document shall certainly reflect our present assessment of what is likely to happen,'' but the developments would not be allowed to ''unduly affect our medium or long-term growth perspectives,'' Pant said.
“We shall of course be watching the situation and the Tenth Plan document shall certainly reflect our present assessment of what is likely to happen,'' but the developments would not be allowed to ''unduly affect our medium or long-term growth perspectives,'' Pant said.
Admitting that there would be fluctuations in the growth rate, the deputy chairman said despite adverse international developments like the East Asian crisis and major internal setbacks such as the Gujarat Earthquake and Orissa Cyclone, the country had a higher growth rate in the 1990s than in the 1980s due to the ''basic strength of the economy which we should take note of.''
However, he intended to establish a mechanism within the Planning Commission to monitor international developments and suggest corrective steps which can be incorporated in the annual plans and budgets, pant said.
Bureau Report