Aiming to catapult India into a fast growing developing economy, Prime Minister Manmohan Singh on Wednesday set a 10 per cent economic growth target by the end of the 11th Plan, based on a prescription encompassing doubling of farm growth and massive employment opportunities.
"The 11th Plan is going to be historic in many ways...we could have not asked for a better start... we would be finally emerging into the front ranks of fast growing developing countries," he said, chairing a meeting of the full Planning Commission to discuss the approach to the 11th Plan.
He also pointed out that priority on resources would be given to agriculture and social sector development.
"This is the first time since the planning process began that we will be aiming for a growth rate of 10 per cent in the final years of the plan," Singh said while listing out the strength of the economy including buoyant FDI flows, moderate inflation, a comfortable external position as also current account deficit and foreign exchange reserves.
He, however, said that there were serious weaknesses and poverty was not falling fast enough.
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