12th plan: We must allow markets to get on with their job

The National Development Council (NDC) may have been unduly optimistic in paring the economy’s medium-term economic growth expectation to 8%. With growth in the first year of the Twelfth Plan at below 6%, the climb back to the 7.9% average growth of the Eleventh Plan will be steep: the economy will need to grow at upwards of 9% in the terminal two years of 2012-17.

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