Prime Minister Manmohan Singh has called a full planning commission meeting on September 1 to discuss and to assess the 11th five-year Plan targets, both growth and sectoral.

It is an important meeting as PM is expected to discuss the current financial status of country as the poor monsoon has led to drought conditions in many states, and the manufacturing sector is still recovering from the global slowdown.

This will be the first meeting after the reconstitution of Plan Panel. The meeting is expected to analyze the status of implementation of the integrated energy policy (IEP), which is related to gas allocation and pricing. It will also cover the ongoing Ambani dispute over allocation of Krishna-Godavari (K-G) oil fields.

The meeting will also likely to cover current economic status of country as the Indian economy, which is emerging out of the global meltdown, is now under enormous pressure due to the monsoon failure. The Plan Panel will have to discover the ways to bring back the economy on the positive side of the growth trajectory.

Planning Commission Deputy Chairman, Montek Singh Ahluwalia has said that the meeting would just be a status assessment as energy is very essential for development. Members would be informed about the key issues in IEP for the mid-term appraisal of the Eleventh Five-Year Plan period (2007-12).

He added that government would not increase the projected fiscal deficit target of 6.8% for the current financial year. The issue of rising food prices would also be considered in the meeting but it would not discourage any other economic sector.