Full PlanComm to approve 12th Plan document tomorrow

Full Planning Commission chaired by Prime Minister Manmohan Singh is likely to approve tomorrow the 12th Plan document that seeks to raise the average annual economic growth during the five-year period ending March 2017 to 8.2 per cent from 7.9 per cent achieved in 11th Plan. The meeting, which has been called by the Prime Minister, will also vet various other social sector targets relating to poverty alleviation, infant mortality, enrollment ratio and job creation.

Besides other things, the 12th Plan seeks to achieve 4 per cent agriculture sector growth during the Plan period. The growth target for manufacturing sector has been pegged at 10 per cent. The total plan size has been proposed at Rs 47.7 lakh crore, 135 per cent more that the investments realised in the 11th Plan (2007-12).

The meeting will be attended by regular Planning Commission members and key Cabinet ministers. Once the document is approved by the full Plan panel, it will be vetted by the Union Cabinet and then placed before the National Development Council (NDC), the apex decision making body, for final approval. In view of the ongoing global problems, the average annual growth target for the 12th Plan has been scaled down at 8.2 per cent from 9 per cent envisaged in the Approach Paper to the 12th Plan.

As regards poverty alleviation, the Commission proposed to bring down the poverty ratio by 10 per cent during the Plan period. At present, the poverty is around 30 per cent of the population. As per the document, states will be encouraged to set their own economic growth and social sector targets. The panel has also proposed generation of five crore new jobs during the five year period in the non-farm sectors.