The Hindu Business Line : Cabinet clears 10th Plan mid-term appraisal

The document would now go to the National Development Council (NDC), the Union Finance Minister, Mr P. Chidambaram, told newspersons here on Thursday.

Mr Chidambaram admitted that the MTA was delayed and that it should have been ready last year.

"Because of the change of Government, we had to take up the MTA and it has now been completed. The full Planning Commission has approved it with some comments. These have also been incorporated. The Cabinet has approved it. And it would now go to the NDC", he said.

Mr Chidambaram was not clear about the likely schedule of the NDC meeting but said "presumably, it will be called very shortly. I don't know the date."

On whether the Cabinet approval implied that there was movement on the suggestions contained in the MTA as regards the FDI in retail and allowing foreign airlines to have equity in domestic airlines, he said that the MTA document was a mid-term appraisal of the Plan prepared by the Planning Commission.

"Like any other appraisal, it would reflect both the strong points and the weak points (the successes and the slippages). The MTA would go to the NDC and the NDC would take appropriate decisions."

The Plan document had projected 8 per cent growth for the Tenth Plan.

"In the very first year, we achieved only 4 per cent. So, obviously we are behind the target of 8 per cent", he said while declining to get into an elaborate discussion on MTA.

On another issue, the Finance Minister said that the matter on pricing of natural gas has been "deferred for further examination of one or two aspects".

He said that there was a group of ministers which made certain recommendations.

"There are now additional proposals by the Ministry of Petroleum and Natural Gas. They have to be looked into and would be looked into very quickly," Mr Chidambaram said.

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