Plan panel mulls rejig of growth milestones

Even policy priorities will be revisited by the team

The other reason that prompted plan panel to expedite the appraisal is that necessary inputs including corrective measures could be suggested to finance ministry well in advance for preparation of the budget for 2010-2011.

“We hope to finalise the appraisal by January next year so that priorities in the back drop of recent global developments can be clearly defined and get reflected in the next budget,” the Planning Commission Deputy Chairman Montek Singh Ahluwalia told newspersons after the first meeting of the newly constituted Plan Panel.

It was agreed that the findings of the mid-term appraisal would be placed for approval before the full planning commission meeting proposed to be held in early January next year.

The planning commission has set a target of an average annualised growth rate of 9 per cent going up to 10 per cent in the final year of the Eleventh Plan. In the first year of Eleventh Plan 2007-08 while the economy has posted a little above nine per cent growth rate, in the second year 2008-09 the growth rate has dipped to 6.7 years.

To get a more credible appraisal, the planning commission would involve external agencies as well as other stake holders to ensure that the review has more meaningful findings and recommendations that result in implementable changes in the approach paper, sources said.

Significantly the planning commission also decided to start working on formulating the 12th Plan (2012-2017).

Approach paper

It was agreed at the meeting that the process of approach paper formulation should also start simultaneously and steering committees be set up so that macro-level planning for the 12th Plan is available by the end of 2010.

“All possible efforts would be made to finalise the document for the 12th plan by January 2012 so that the priorities are well reflected in the very first year of the plan,” sources said.