The double digit fallacy

The 12th Plan, recently approved by the National Development Council, targets a growth rate of 8 per cent for the plan period, that is 2012-13 to 2016-17. This was a lower figure than the 8.2 per cent average proposed earlier in the year and a sharp downward revision from the 9.5 per cent proposed in the approach paper to the 12th Plan. 

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