PlanComm, PMEAC members to put in papers tomorrow

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Members of the Planning Commission and Prime Minister's Economic Advisory Council (PMEAC) are expected to submit their resignation tomorrow to Prime Minister Manmohan Singh.

"The Planing Commission Deputy Chairman along with its members and the PMEAC members may put in their papers on Saturday," a officials said.

According to sources, the PMEAC members and Planning Commission's members are expected to resign before meeting of the Union Cabinet scheduled tomorrow.

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

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

As per the practice all members of the Commission submit their resignations to the Prime Minister who is the head of the institution.

The members of the PMEAC which is headed by noted economist C Rangarajan are Saumitra Chaudhuri, V S Vyas, Pulin B Nayak, Dilip M Nachane.

PMEAC was involved in preparation of various reports, including the one on gas pricing.

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