NDC to meet on 12th Plan approach paper
New Delhi: India`s highest policymaking body, the National Development Council (NDC), will meet on October 15 to discuss and approve the `Approach Paper` to the 12th Five-Year Plan (2012-17), which envisages 9 per cent annual economic growth.
Besides discussing the Approach Paper, the NDC will also take stock of the economy in the backdrop of sluggish growth and persistent high inflation, which is hovering around the double-digit mark.
The country is estimated to register an average growth rate of 8.2 per cent in the current Plan (2007-12).
"The NDC is scheduled to meet on October 15 to consider and approve the Approach document to 12th Plan and to take stock of the economy in view of the prevailing slowdown the world over," a source said.
The NDC, headed by Prime Minister Manmohan Singh, has all Chief Ministers, Cabinet Ministers and members of the Planning Commission on its board.
The Approach Paper, which provides a broad framework of the government policy to be pursued in the five-year period to achieve the desired growth rate, was approved by the full Planning Commission headed by the Prime Minister on August 20 and by Cabinet on September 15.
The blueprint of the next Plan focuses more on the social sector and suggests ways to improve spending on health, education and environment.
The Planning Commission is also envisaging an over USD 1 trillion investment in the infrastructure sector in the 12th Five-Year Plan, with about half of it coming from the private sector.