India likely to set 9% growth target for next five year plan

New Delhi (IANS): India is likely to set a target of 9 percent economic growth during the 12th Five Year Plan, that runs from 2012-13 to 2116-17, when Prime Minister Manmohan Singh chairs a meeting of the full Planning Commission here Saturday.

'We are in favour of choosing a 9 percent economic growth,' Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here, ahead of the meeting called to consider the approach paper of the next five year plan.

The prime minister is the plan panel's chairman.

According to Ahluwalia, the current fiscal ending March next year, was likely to see a growth of over 8 percent in gross domestic product (GDP), as against 8.5 percent registered during the previous fiscal.