Do you think the 9 percent target of growth in 12th five year plan is achievable?
The target of 9 percent economic growth is very ambitious given the current state of the global economy but can be achieved if India is able to overcome problems of inadequate infrastructure and managed its resources better. India has been able to achieve around 8.2 percent growth rate in the 11th plan period, so a growth target of 9% is practical but bit difficult.
The Government is already planning for investment of $1 Trillion for infrastructure sector development. This would certainly pave the way for higher economic growth as Infrastructure is a must for overall economic development in the country. The growth target for the agriculture sector has been set at 4 percent for the 12th plan against an estimated growth of 3.3 percent in the current plan. This target could be met if scientific management of agriculture is done along with second green revolution.
On the Fiscal Management side, the FRBMA Targets are a must to be achieved. FRBMA target could be met only when non-planned expenditure could be controlled through implementation of recommendations of Thirteenth Finance Commission and reduction of subsidies.