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Ambitious targets for the Eleventh Plan

The 11th Plan draft document has set ambitious targets of per capita income growth of 7.6 per cent each year and an overall average economic growth of nine per cent.

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NEW DELHI: Aiming to improve the living standards in the country, the 11th Plan draft document has set ambitious targets of per capita income growth of 7.6 per cent each year and an overall average economic growth of nine per cent.

The Plan aims at an average growth rate of 9 per cent, accelerating it from 8 per cent in the first year of the Plan (2007) to 10 per cent by the end of the Plan period (2011-12).

The average nine per cent growth during the Plan period is targeted to arrive from four per cent growth in otherwise stagnating agriculture sector and 9-11 per cent in the booming industry and services each.

"If the target for the Eleventh Plan is achieved, it would mean that per capita GDP would grow at around 7.6 per cent per annum resulting in broad-based improvement in living standards," says the Plan document.

However, the Tenth Plan period saw actual per annum growth at 7.6 per cent, slightly below the target of 7.9 per cent. Further back, the Ninth Plan had fixed an even lower growth target of 6.5 per cent while it achieved the actual average growth of 5.52 per cent.

Investment target for the Eleventh Plan is six per cent higher in terms of proportion of GDP at 36.7 per cent against 30.8 per cent in the previous Plan.

The Plan's draft aims at savings rate of 34.8 per cent of GDP against 30.8 per cent in the Tenth Plan.

The investment and savings rates have been fixed keeping in mind the nine per cent average growth target during the Eleventh Plan, the draft Plan says.

The public investment target aimed by the Commission is also a notch higher at 8.6 per cent of GDP compared to average public investment of 6.7 per cent during 2002-2007 period. The targets are same as the public investment made in the Eighth Plan (1992-1997) when the country had just stepped up the infrastructure building process.

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