Panel may downgrade growth to 7% for 12th plan

  • HT Correspondent, Hindustan Times, New Delhi
  • |
  • Updated: May 27, 2013 05:00 IST

The Planning Commission may scale down the annual growth rate for the 12th five-year plan (2012-17) from 8% to 7% in its mid-term review of the plan.

The commission has initiated the process to review the plan, which came into force from the current financial year, and is of the view that attaining the 8% annual growth rate for the plan would be difficult considering that growth is expected to remain below 6.5% for the first two financial years of the plan.

Planning Commission officials expected the country to achieve 7% growth rate considering that signs of revival of economy was emerging. Even Prime Minister Manmohan Singh, who heads the commission, has expressed hope of economic revival from this financial year.

 

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