After having recorded a GDP growth of 9 per cent during the last quarter of 2005-06, the Planning Commission has now targeted an average growth of 8.5 per cent between 2005-2012 (11th Plan). The target growth rate is 9.5 per cent during the terminal years of the Plan, thereby putting India on a ‘‘high-growth trajectory witnessed earlier by Korea and China.’’
In the approach paper for the forthcoming Plan, which was given final touches late last night and sent to state chief ministers today for feedback, the growth objective is termed as ‘‘feasible’’ but needs ‘‘special efforts.’’
The thrust is ‘‘faster and more inclusive growth,’’ to ‘‘empower the poor by expanding access to health and education’’ and by providing special livelihood support schemes and programmes.
The approach paper was sent to Prime Minister Manmohan Singh a couple of weeks ago and his feedback was incorporated.
To attain the ‘‘China-Korea growth trajectory’’, the focus would broadly be on agriculture, where a second Green Revolution is ‘‘urgently needed’’ to achieve sustained higher growth (4 per cent).
Social sectors, including education, where use of IT and electronic content and testing mechanisms would be made available to remove infrastructural bottlenecks.
And the manufacturing sector, where the focus would be on increasing competitiveness and removing input bottlenecks, especially unreliable power, that is currently a ‘‘drag on the pace of India’s development’’ and remains ‘‘elusive’’ vis-a-vis competitors such as China.
The paper sent to the CMs asks for a ‘‘decisive improvement’’ in quality of power supply.
... contd.