Ummid Assistant

Applications open for Manmohan scholarship at Cambridge

IIM-Trichy to offer short courses too at Chennai centre

Welcome Guest! You are here: Home » National

Even 8 percent growth target ambitious: PM

Thursday December 27, 2012 07:12:08 PM, IANS

Related Articles

Miffed Jayalalithaa walks out of NDC meet

Miffed at not being allowed to deliver her full speech, Tamil Nadu Chief Minister J. Jayalalithaa Thursday walked out of the NDC meet here accusing the government of humiliating her.  »

New Delhi: Prime Minister Manmohan Singh Thursday said even the revised growth target of 8 percent for the 12th Five-Year Plan was ambitious and involvement of women and development of infrastructure remained at the core of achieving that goal.

Addressing a National Development Council meeting to finalise the Five-Year Plan and referring to the lower growth target, Manmohan Singh said circumstances had made the goal a challenge too.

"This is a reasonable modification. But I must emphasise that achieving an average of 8 percent growth, following less than 6 percent in the first year, is still an ambitious target," he said.

He said the country was reasonably successful in what it had achieved so far in growth and development, notably in poverty reduction and scaling up of farm output.

"But we must also remember that we are still a low-income economy. We need 20 years of rapid growth to bring it to middle-income level. The journey is long and requires hard work," the prime minister said at the NDC meeting at Vigyan Bhavan here.

"Better infrastructure is the best guarantee for rapid growth of the economy," he said. "There can be no meaningful development without the participation of half the population (comprising of women). Their security must be assured."

Planning Commission Deputy Chairman Montek Singh Ahluwalia said development goals in the 12th Five-Year Plan could only be achieved by proper policy implementation.

"If policy decisions are not properly implemented, growth (rate) would be limited to 6 to 6.5 percent in the 12th Plan period," said Ahluwalia.

The union government is aiming to achieve an average of 8 percent growth in the gross domestic product (GDP).

Ahluwalia had, in the approach paper for the 12th Plan, set a growth target of 9 percent, which was lowered to 8.2 percent. It has now been further lowered.

He said aspirational growth scenario now was 8 percent due to global economic factors.

The second target was 6.5 percent if key policy decisions were not implemented properly. Third was 5-5.5 percent if there was a policy logjam, he said.

But Finance Minister P. Chidambaram expressed optimism that the Indian economy would continue to grow at a healthy rate even as other economies faced recession.

"Our economy has strong fundamentals and factors such as high saving rate, growing service sector, a large middle class which continues to create demand and technical manpower and youth," he said.

Chidambaram said it was imperative to contain the fiscal deficit by augmenting resources and controlling expenditure, which might cause immediate pain, but were necessary.

He said there was also a need to control gold imports which contributed $64 billion to India's deficit.

The National Development Council is an extra-constitutional, non-statutory body.

It is the apex institution for decision-making in India, led by the prime minister, and includes cabinet ministers, chief ministers of all states and union territory representatives.



 

 


 





 

Home | Top of the Page

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

i

I

More Headlines

Situation at Tinsukia tea estate tense but under control

Cyrus Mistry, humble head of corporate leviathan Tata Group

Leading still-life photographer essaying Indian migration

'Books by scientists can link art and science'

Ratan Tata's legacy, Cyrus Mistry's challenge

Yet another woman gang-raped in Delhi, dumped on road

Miffed Jayalalithaa walks out of NDC meet

Gang rape: What is going wrong with Indian society?

Tea garden owner, wife burnt alive in Assam

Yeddyurappa decision Jan 4 on bringing down BJP ministry

President prorogues parliament

 

Top Stories

Gangrape victim flown to Singapore for treatment

The 23-year-old grievously injured gangrape victim was late Wednesday night flown out of India for treatment in Singapore, even as  »

Constable's death: Delhi Police fail to provide evidence

Row over dead constable, witnesses say he wasn't hit

Woman judge to probe Delhi gang-rape case

 

  Most Read

Yet another woman gang-raped in Delhi, dumped on road

A 42-year-old woman was allegedly gang-raped by three people and dumped in a south Delhi locality late Wednesday  »

Gang rape: What is going wrong with Indian society?

UN voices concern over situation of Muslims in Myanmar

The UN General Assembly unanimously adopted a resolution late Monday welcoming positive changes in Myanmar but expressing serious concern at an upsurge of sectarian violence between Muslims and Buddhists in strife-torn Rakhine state. The resolution adopted by the 193-member  »

 

  News Pick

Government to sell 12.5 percent stake in Rashtriya Chemicals and Fertilisers

The government Wednesday decided to sell 12.5 percent of its stake in Rashtriya Chemicals and Fertilizers (RCF) Limited to help meet the Rs.30,000 crore   »

No breakthrough likely at all-party meet on Telangana

Notwithstanding the high expectations that a section of Congress leaders have, the all-party meeting convened by the central government over the Telangana issue Dec 28 is not likely to achieve any breakthrough in finding a solution to the contentious issue. With just two days to go for the  »

Gay marriage plan undemocratic: Britain's top Catholic priest

The head of the Roman Catholic Church in Britain has described the government's plans for gay marriage as undemocratic and a "shambles". Archbishop of Westminster Vincent Nichols said the government had no mandate to push   »

Tea garden owner, wife burnt alive in Assam

The owner of a tea estate and his wife were burnt alive Wednesday by a group of agitated labourers in Assam, police said. The incident occurred in the evening at the M.K.B Tea Estate in Tinsukia district, about 500 km from Assam's  »

 

Picture of the Day

Artists performing dance drama based on the ‘Geetgovindam’, by Shri Jayadev, at the inauguration of the 60th Annual Arts Festival, at Kalakshetra, Chennai on December 21, 2012.

 

Recommend the story to your friends

 

 
 
 
 
 
 
 
 

RSS  |  Contact us

 

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Science & Technology

RSS

Scholarships

About us

International

Health

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

Contact us

Business

The Funny Side

Education & Career

     

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

© 2012 Awaz Multimedia & Publications. All rights reserved.