12th Plan to spell out state-specific growth targets
“The Planning Commission will include state’s individual economic growth targets and monitorable targets for social sector indicators for the first time in the 12th Plan, ” a source privy to the development said.
The exercise, he added, “is being done to achieve a more inclusive, faster and sustainable economic growth for the entire country. The aim is to benefit people at the rock bottom pyramid of the society”.
The 12th Plan document, which is proposing average annual growth target of 8.2 per cent, will be placed before the meeting of full Planning Commission, to be headed by Prime Minister Manmohan Singh, on September 15.
The Commission, has already completed the consultations on these two types of monitarable benchmarks with all states and fixed the goal for them during the five year long policy period ending on March 31, 2017.
Once the document is cleared by the Full Plan panel, it would be vetted by the Union and Cabinet and then it would be placed before the country’s apex decision making body National Development Council (NDC) for final approval.
The NDC is headed by the Prime Minister with all Cabinet Ministers and Chief Ministers on board.
During the 12th Plan, the Commission has decided to propose lower annual average growth rate of 8.2 per cent as compared to 9 per cent envisaged earlier in view of the fragile recovery.