12th Five Year Plan (2012-17): Target to achieve 8% Growth Rate

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India will aim to achieve the growth rate of 8 per cent for its economy in the next five years through 12th Five Year Plan (2012-17).

The Prime Minister Dr. Manmohan Singh expressed happiness over the target of 8 per cent economic growth in 12th Five Year Plan, and termed it as ‘Ambitious’.

 Montek Singh Ahluwalia, the Deputy Chairman of Planning Commission of India has said that the country should aim to achieve 8 per cent economic growth in next five years -2012-17.

However, the planning commission has trimmed its growth target to 8 per cent from 8.2 per cent flagged in the draft plan document, according to media reports. Indian economy has been struggling to bail out from the clutches of global slowdown.

Government need to take some more economic reforms to boost the economy and keep up the momentum.

Following the slowdown, the economy growth project has been forecast at 5.7-5.9 per cent for the current fiscal year that will end in March 2013.