New Delhi: It is not possible to achieve 9 per cent economic growth during the 12th Five Year Plan period that began April 1, 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Friday.
"It is not possible to think of 9 per cent growth. I think somewhere between 8 and 8.5 per cent is feasible," Ahluwalia said when asked about the possible economic growth during the 12th Plan period (2012-17).
The approach paper for the 12th Five Year Plan (2012-17) approved by the panel led by Prime Minister Manmohan Singh has set a target of 9 per cent average annual growth for the period.
Ahluwalia said even 8 per cent growth would not be easy to achieve given the deteriorating global economic situation.
"When I say feasible, that will require major effort. If you don't do that, there is no god-given right to grow at 8 per cent," Ahluwalia told reporters on the sidelines of an event organised by the Planning Commission here.
He said growth rate in 2012-13, the first year of the 12th Plan period, is likely to remain around 6.5 to 7 per cent.
India's economic growth slumped to 6.5 per cent in the financial year ended March 31, 2012, as compared to 8.4 per cent in the previous year.
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