Prime Minister Narendra Modi and chief ministers on Sunday will go into a day-long huddle for finalising  a roadmap for the rapid transformation of India under a new approach which will replace the now-extinct Five Year Plans.

Prepared by Niti Aayog’s Vice Chairman Arvind Panagariya, the roadmap will comprise a seven-year Strategy document and the three-year Action Agenda.

The Action Agenda, which will replace the Nehruvian era five-year plans, aims at increasing economic growth and employment generation. The 12th Five Year Plan ended on March 31.

The  seven-year strategy document — spanning from 2017-18 to 2023-24 — will seek to convert the longer-term vision on India’s growth story into implementable policy as a part of a ‘National Development Agenda.’

As the third meeting of the Niti Aayog’s Governing Council gets underway, the PM and the chief ministers are to approve the Action Agenda for 2017-18 to 2019-20, which is being “aligned to the predictability of financial resources” during the 14th Finance Commission Award period, officials said.

As desired by Modi, the leaders will review the action taken during the earlier two meetings of the Governing Council held on February 8, 2015 and July 15, 2015, respectively. 

There will be two presentations before the PM and the CMs. One will focus on doubling farmers’ income, and the other will discuss the rollout of Goods and Services Tax (GST).