New 15-year vision to replace Nehruvian 5-Year Plan from 2017
Sunday 15th of May 2016
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 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.
THE 15 -YEAR REPLACEMENT
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
|
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) |
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.
1951-56 means April1.1951, to March31.1956, and likewise ^In percentage
Source: Planning Commission of India