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Mr. Chairman, Let me begin by welcoming you to the second meeting of the Full
Planning Commission. The Mid-Term Appraisal of the Tenth Five Year Plan provides a
comprehensive review of the performance of the economy as a whole and of the state of
play in each of the sectors. There are several positive features which are noted but, there
are also signs that the economy is not on track to achieve many of the important targets of
the Plan and corrective policies are therefore urgently needed. I am looking forward to a
focused discussion on the challenges ahead.
It appears that even with optimistic projections about the next two years the average
growth rate in the Tenth Plan period is not likely to cross the 7% mark, will below the X Plan
growth target of 8.1% Employment generation is also unsatisfactory so far. The cornerstone of the X Plan had been a reversal of the declining trend in the growth rate of
agriculture to eventually to take it above. The actual performance of agriculture appears to
have deteriorated even further and will possibly not exceed 1.5% during the first three years
of the Plan.
The slippages that have been recorded in the growth rate of the economy, and
especially in agriculture, have wide ranging implications for other important economic
variables as well. As we all know, growth of employment and reduction in poverty are both
intimately linked to growth performance, especially in agriculture. Many of these problems
were recognized in the National Common Minimum Programmed and Government has
already initiated corrective steps in some of the critical areas. The Food for Work
Programmed which is to evolve into an Employment Guarantee when the Bill is passed is a
major initiative in providing income security.
Parliament in the next Session, so that we can resume normal work, in accordance
with the aspirations of the people we represent. I look forward to participating in the next
Session of parliament, with the presence of all Members of this August House. I greatly
regret the absence of the Opposition from Parliament. The Opposition has an honored place
in our system of governance and their absence from the House detracts from the efficiency
of our processes of governance.