November 09, 2007	Friday	Shawwal 27, 1428

NEW DELHI, Nov 8: While India achieved actual per annum income growth of 7.6 per cent, slightly below the target of 7.9 per cent in its Tenth Plan period, it has set overall growth rate of nine per cent in its 11th five-year plan.

According to the 11th plan draft documents, 7.6pc income growth rate each year has been fixed with an overall average economic growth of nine per cent.

During the ninth plan, India achieved the actual average growth of 5.52 per cent instead of 6.5 per cent fixed for the period.

Under the plan, an average growth rate of nine per cent, accelerating it from eight per cent in the first year of the plan (2007) to 10 per cent by the end of the plan period (2011-12) will be achieved.

“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,” the plan document said.

Investment target has been fixed at 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 savings rate of 34.8 per cent of GDP against 30.8 per cent in the tenth plan has been fixed.—APP