New Delhi, Aug 20 (IANS): Sounding upbeat on the Indian economy despite an uncertasin global environment, Prime Minister Manmohan Singh Saturday said the 12th Five Year Plan
will target a 9-9.2 percent growth but said the second-generation reforms, which were a "lot more difficult", will require wider national consensus.

"Considering the uncertainties in the global environment, as also inflationary pressures at home, it would be prudent to have a growth target which would ensure the achievement of the objective of the target of sustained, inclusive growth at a level, which would also take into account the capabilities of the economy," the prime minister said.

Taking all these factors into account, we will be working on a growth rate of 9 percent per annum, but we will also keep open the possibility of raising the growth rate if the situation so improves -- the domestic and international situation improves -- to 9.2 percent," he told a select group of journalists after chairing a meeting of the full Planning Commission at his 7 Race Course Road residence.

The meeting was called to discuss the draft approach paper for the 12th Five Year Plan that begins 2012-13.

The prime minister said the while second-generation reforms were being pursued they will require a wide consensus. At the same time, he hoped such a consensus will eventually emerge, as it did when the programme was first launched in 1991.

"Second generation reforms are essential. But they are a lot more difficult -- they require a broad-based national consensus," he said, adding: "The effort has to be to create a climate of opinion whereby all political parties would unite in national interest to push forward the reform agenda."