UPA victory to ensure continuity in the planning process

New Delhi, May 17: The UPA victory will ensure continuity in the planning process during the remaining period of the ambitious 11th Five Year Plan (2007-12), at a time when the economy is braving the global financial meltdown.
Although the new UPA government will reconstitute the Plan panel, Commission is likely to retain the thrust of the Plan on social sector, health and education.

"Eleventh Plan initiatives will continue", Planning Commission Member Abhijit Sen said, adding, "Poll results will lead to huge confidence building among the masses." Referring to the ambitious Plan growth target of 9 per cent, he said, "the GDP growth rate, which had been impressive, suffered a jolt due to the global economic meltdown and would recover as the world economy would revive".

Having recorded an economic expansion of 9 per cent in the first year (2007-08) of the 11th Plan, the Gross Domestic Product (GDP) growth rate slipped to 6.5 to 6.7 per cent (as per the RBI estimates) during the previous fiscal. Even during the current year, the economy is projected to grow by only 6 per cent making the target of achieving of 9 per cent a Herculean task. PTI