The first year of the plan period, 2012-13, also logged 5% growth - the slowest pace in a decade. Unless there's a dramatic shifting of gears by the economy's managers, the assessment carried out by the NCAER expects growth in 2016-17 to be just 5%. "Strong inclusive growth is the only way for the country to go and the policy agenda laid out in the plan is designed to achieve the objective," states the plan's macro-economic framework. Last week, the Confederation of Indian Industry said the industrial slowdown has not bottomed out and sluggish private and government capital expenditure is hurting investment in industry and the economy. The NCAER's assessment matches the sentiment among industry captains that the worst is yet to come. The real question is if the public policy approach outlined in the plan document is consistent with the high-growth scenario it envisions," Sen said, stressing that an average growth of 7.8% in the Twelfth Plan would mean growth could soar to 8-9% by 2016-17. "What is more critical is the trajectory of growth and the trends beyond the headline growth, in key economic indicators such as the investment rate. Since the first year of the plan saw slower-than-anticipated growth, overall expansion is likely to be lower, said Pronab Sen, the chairperson of the National Statistical Commission. In 2012-13, the first year of the plan, the economy expanded only 5%, the slowest pace in a decade. But even in this scenario, the NCAER sees growth at 7.8% over the five-year plan that is already in its second year. The Twelfth Plan document had pegged average growth at 8.2% assuming a best-case scenario of strong, inclusive growth delivered by all-round government action. But the NCAER expects it to be just 5.9%. The government expects that under the 'insufficient action' scenario - which envisages a piecemeal approach to reforms - growth will be 6-6.5%. In contrast, the NCAER study says growth would slip to below 5%.Įven under the 'insufficient action' scenario, growth won't meet the government's expectations. Reviewed by ET, the NCAER models are based on "more recent data till 2011-13" while the plan document's growth simulations for each scenario were carried out last year using data up to 2011-12, when the Indian economy grew by 6.2%.Īssuming a 'business as usual' approach - the worst-case scenario, in which the policy logjam would persist - the Plan panel had assumed growth of 5-5.5%. Though the NCAER presented its findings to the Plan panel in April, they have been kept under wraps. In all three scenarios, the NCAER has found that the Twelfth Plan would see slower growth than the Eleventh Plan, which saw 7.9% expansion between 20.
The NCAER analysis uses three different scenarios for growth based on the extent of reforms that can be pushed through. The late 'Linkin Park' star was laid to rest earlier this month in a private ceremony with his close family and friends.The NCAER had been entrusted by the Planning Commission to use econometric models to derive key macro-economic indicators for this five-year plan. The 47-year-old rapper concluded his headline set at Weston Park, Staffordshire with a performance of 'Numb/Encore', the only single from the album 'Collision Course' which the rapper collaborated with Bennington and his band 'Linkin Park' back in 2004.Īccording to Mirror, the rapper was cheering for the late singer in the crowds saying, "Can I get some love for Chester tonight?" before asking them to "make some noise so he can hear you in heaven".Įarlier this month, the rapper's close friend and 'Coldplay' frontman Chris Martin also paid tribute to the late singer at a concert in New Jersey with a solo rendition of piano version of 'Crawling'- Linkin Park's 2000 hit.īennington, 41, tragically took his own life at his home at his home in Palos Verdes, California, last month due to extensive battle with depression. London, Aug 20 (ANI): The crowd at V Fest was in for a surprise when rapper Jay Z paid tribute to his late pal Chester Bennington during his performance on Saturday.