New 15-year vision to replace Nehruvian 5-Year Plan from 2017
Sunday 15th of May 2016
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Prime Minister Narendra Modi, has decided to get rid of the Nehruvian five-year plans, and replace them with 15-year vision documents.
The current 12th Five-Year Plan will be terminated in the current financial year, 2016-17.
The first 15-year vision document will start from 2017-18, along with a seven-year National Development Agenda which will lay down the schemes, programmes and strategies to achieve the long-term vision.Planning
- The first 15-year vision document will come into effect from 2017-18 after the end of the 12th Five year plan.
- It will be formulated with central objective of eradication poverty.
- It will come along with a seven-year National Development Agenda which will lay down the programmes schemes, and strategies to achieve the long-term vision
- The long vision document (perspective plan) will comprise of three-year macroeconomic framework.
- The framework will predict growth indicators that will be synced with the 14th Finance Commission recommendations.
- It will also be coterminous with the UNDP’s 2030 sustainable development goals to which India is committed to meet broader social objectives.
THE 15 -YEAR REPLACEMENT
- The 15-year vision document will also include defence and internal security. They were not been a part of five-year plans. The NITI Aayog will also create a dashboard for monitoring, evaluation and review of the implementation of vision document.
|2017-18 to 2032-33||Vision Document|
|2017-18 to 2024-25||National Development Agenda|
|2017-18 to 2019-20||Review of Development Agenda(to be repeated after every three years)|
Plan-wise GDP growth rates
From 1966 to 69, there was no five-year plan but annual plans. Similarily, from 1979 to 80 and 1990 to 1992, there were no five-year plans.
| ||Plan||Actual growth|
|1951-56||1st 5-year plan||3.6|
|1956-61||2nd 5-year plan||4.2|
|1961-66||3rd 5-year plan||2.8|
|1969-74||4th 5-year plan||3.3|
|1974-79||5th 5-year plan||4.7|
|1980-85||6th 5-year plan||5.7|
|1985-90||7th 5-year plan||5.8|
|1992-97||8th 5-year plan||6.5|
|1997-02||9th 5-year plan||5.5|
|2002-07||10th 5-year plan||7.8|
|2007-12||11th 5-year plan||7.9|
|2012-2017||12th 5-year plan||Scenario1-8 (Strong groth)|
Scenario2-6 (Partial reform)
Scenario3-5 (Policy logjam)
1951-56 means April1.1951, to March31.1956, and likewise ^In percentage
Source: Planning Commission of India