New Delhi: Planning Commission deputy chairman Montek Singh Ahluwalia on Saturday resigned while the other members are in the process of putting in their papers.

Ahluwalia submitted his resignation to the Prime Minister Manmohan Singh after the Union cabinet meeting held here in the capital.

Apart from him, another member of the Commission B.K. Chaturvedi also submitted his resignation.

“Deputy chairman has put in his papers. I don’t know about the other members but I have resigned as member of the Planning Commission this morning," Chaturvedi said.

Besides 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.

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 on Friday of the general elections, the new BJP-led government is expected to be formed next week. The new government will decide on the reconstitution of the the Commission.

This Commission has drafted the 12th Five-Year Plan (2012-17) which envisages an annual average economic growth of 8% 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% in 2013-14, the second of the policy period. The economic growth is expected be 5.5% during this fiscal.

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