AP targets 9-9.5% growth

Chief minister, N Kiran Kumar Reddy, said that the state had set a target of achieving 9-9.5 per cent growth rate during the 12th Five Year Plan period (2012-13 to 2016-17). In the Eleventh Plan, the state has registered a growth rate of 7.93 per cent so far.

The state is currently engaged in identifying and preparing appropriate growth strategies keeping in view the 12th Plan's basic theme of “faster, more inclusive and sustainable growth,” he said.

“One secret of our recent success is the effective implementation of the FRBM Act,” Reddy said at the meeting of the southern state chief ministers convened by the Planing Commission at Bangalore today for consultations on the approach paper to the next Five Year Plan.

He, however, said it would be increasingly difficult to comply with FRBM norms if the state was not suitably compensated for the loss it had incurred on account of natural calamities in the recent past. He pointed out that the state economy suffered to the tune of Rs 20,000 crore due to succession of natural calamities.