Wednesday, April 6 2005 09:49 Hrs (IST) - World Time -

New Delhi: Planning Commission yesterday (Apr 5, 2005) said that the 8.1 per cent growth target for the economy would not be met during the 10 Plan period, largely due to poor showing in the agriculture sector which suffered a major slowdown since the mid-1990s.

The mid-term appraisal of the 10th Plan, approved by the full Planning Commission, chaired by Prime Minister Manmohan Singh, recommended a slew of correctives including stepping up public investment in agriculture and infrastructure sectors while seeking a conducive policy environment to get the elusive private investment.

"The economy grew only by 6.5 per cent during the first three years... even if we perform very well in the next two years, overall annual growth is unlikely to be more than 7 per cent," Deputy Chairman of the Commission Montek Singh Ahluwalia told reporters after the three-hour long meeting.

The meeting has authorised the internal Planning Commission to take the MTA to Cabinet for approval. It will then be taken to the National Development Council, whose meeting will be held on April 29.