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Over 8% growth target

New Delhi, Dec. 24 (PTI): The government today said it would aim for more than an 8 per cent growth in the Eleventh Plan on the back of a double-digit growth in the manufacturing and services sectors, an increase in private investments and a 7.5-8 per cent growth during 2005-07 ? the last two years of the Tenth Plan.

“The economy has already grown 8 per cent during the first six months. There is a fear that the momentum may slow down, but I think we will close 2005-06 with a 7.5 per cent growth. An 8 per cent growth in the last year of the Tenth Plan will take us much closer to a higher growth in the Eleventh Plan,” Planning Commission deputy-chairman Montek Singh Ahluwalia said at the Ficci annual general meeting.

“Let’s get to a steady 8 per cent first and then we can think of doing better. We will look at getting more than that in the Eleventh Plan,” he added. He said the possibility of reaching such a high growth would particularly depend on the performance of the manufacturing and the services sectors.

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