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NDC approval for 12th Plan by September, says Montek

Planning Commission Deputy Chairman Montek Singh Ahluwalia on Saturday dismissed the criticism that the national planner is behind the curve in getting its work done, saying he is expecting the NDC approval for the 12th Plan by September.

“I am sure of getting the National Development Council (NDC) approval for the 12th Plan by September, and if that happens, it will be a full three months before, if we compare this with the 10th and 11th Plans,” Ahluwalia said here while addressing a function on the 30th anniversary of Nabard.

There were reports, quoting commission officials, that the planning body may not be able to get the proposals approved by the NDC as scheduled by September, because many working groups are yet to submit the final reports.

Stating that this presumed delay does not impact the functioning of the Plan per se, he said it takes time to get all the data from all agencies and ministries, including reports of steering committees and working groups and views of different ministries and departments.

The documents for 10th and 11th Plans were also finalised much after the beginning of the respective Plan periods. The 11th Plan, which began in April 2007, was approved by NDC in December 2007.

The 12th Plan (2012-17) seeks to raise economic growth rate to 9 per cent.

For FY’13, the first year of the new Plan, the GDP is projected to clip at a low 5.7 per cent to a high of 7.6 per cent, as per the government forecast. But the consensus forecast is around 6.5 per cent, the rate at which the economy grew in FY’12, the lowest rate in the past nine years.

However, Ahluwalia did not say whether the Commission will revise its growth projections for the entire Plan period.

Normally the Commission begins to finalise the Plan document in April of the beginning year and it would take at least six months to prepare the document, Ahluwalia said.

Short URL: http://www.cckerala.com/?p=11499

Posted by on Jun 10 2012. Filed under Business India News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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