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Journalism of Courage
The Full Planning Commission chaired by Prime Minister Manmohan Singh on Saturday approved the 12th Five Year Plan (2012-17) document that proposes to lower annual average economic growth rate target during the period to 8.2 per cent from 9 per cent envisaged earlier in view of fragile recovery.
The Full Commission endorsed the revised growth target of 8.2 per cent for the 12th Plan,which is necessary to achieve the inclusive growth, Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters after the meeting.
The draft document will now be vetted by the Cabinet and thereafter placed before the National Development Council for final approval.
The 12th Plan seeks to raise the economic growth rate to 8.2 per cent from 7.9 per cent recorded in the previous Plan. This,however,is lower than the 9 per cent target envisaged last year.
In view of the global problems,Ahluwalia said,8.2 per cent is a actually a realistic target for the 12th Plan.
He further said the 12th Plan strategy seeks to provide flexibility to states to utilise funds provided under various centrally sponsored scheme and allow them to make state specific guidelines under these programmes for incurring expenditure.
On rationalisation of subsidies,Ahluwalia said,the Commission would take follow-up action on the suggestion of Chidambaram on cash transfers food,fuel and fertiliser subsidies.
This exercise. he hoped,would be completed by March 2017,the end of the 12th Plan period.
Ahluwalia further said that states would be given more flexibility in utilising funds under Centrally sponsored schemes.
The Centre would encourage them to spend funds for the specific purpose under the scheme in more innovative manner,he added.
