New Delhi: Government’s aim to achieve 9 percent GDP growth during the 12th Five Year Plan might suffer a setback as the budgetary support to development schemes during the plan period is unlikely to witness a substantial hike due to the global recession and the possible decline in the non-tax revenue of the Government.

The issue of financing the plans was discussed during the meeting of the Planning Commission chaired by Prime Minister Manmohan Singh on Saturday for giving approval to the approach paper of the 12th FYP.

Economists say Centre's non-tax revenue generation is likely to witness a slump in the years to come despite the fact that the overall revenue would increase.

This will lead to a very minor increase in the budgetary aid during the first three years of the 12th FYP.

Sources said that the Finance Minister made it clear that the government is unlikely to accrue even from disinvestment- one of the major components of the non-tax revenue generation. The government had fixed a target of earning Rs 40,000 crore from disinvestment in the current fiscal.

(JPN/Bureau)