All Planning Commission members submit their resignations

New Delhi: All members of the Planning Commission have submitted their resignations to the Prime Minister's Office paying the way for reconstitution of the institution.

"All members have submitted their resignation to the Prime Minster's Office through Planning Secretary Sindhushree Khullar. Now the PMO will take call on their resignations," an official said.

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

As per 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 the general elections last week, the new BJP-led government is expected to be formed soon. 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 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.