The gross budgetary support for the remaining period of the Eleventh Five-Year Plan (2007-12) will decline due to the slowdown effect.
Talking to Business Standard, Planning Commission member Narendra Jadhav said the budgetary support estimates were based on the assumption that the country would grow at an average of 9 per cent in the Eleventh Plan. “However, due to the economic slowdown, the average growth rate is likely to hover around 7.5 per cent, which will negatively effect the gross budgetary support for the remaining two years of this Plan,” he added. Currently, the Planning Commission is in the process of mid-term review of the Plan and the exercise is likely to be completed by December 2009.
