Planning Commission Deputy Chairman Montek Singh Ahluwalia today resigned while the other members of the panel are in the process of putting in their papers.

Ahluwalia submitted his resignation to the Prime Minister Manmohan Singh after the Union Cabinet meeting held here in the Capital. Apart from him, another member of the Commission B K Chaturvedi also submitted his resignation.

“The Deputy Chairman has put in his papers. I don’t know about the other members but I have resigned as Member of the Planning Commission this morning,” Chaturvedi told PTI.

Besides Ahluwalia, the full-time members of the panel are B K Chaturvedi, Saumitra Chaudhuri, Syeda Hameed, Narendra Jadhav, Abhijit Sen, Mihir Shah, K Kasturirangan and Arun Maira.

According to the practice all members of the Commission submit their resignations to the Prime Minister, who is the head of the institution, after the general elections.

The term of members of the Planning Commission is co-terminus with the Government.

Following the results yesterday of the general elections, the new BJP-led Government is expected to be formed next week.

The new Government will decide on the reconstitution of the Commission.

This Commission has drafted the 12th Five-Year Plan (2012-17) which envisages an annual average economic growth of 8 per cent during the policy period.

However the economy recorded 4.5 per cent growth in the first year of the 12th Plan. It is estimated to be 4.9 per cent in 2013-14, the second year of the policy period. Economic growth is expected be 5.5 per cent during this fiscal.

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