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NITI Aayog: Appraisal Document of Twelfth Five Year Plan 2012-17

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The NITI Aayog has published the Appraisal Document of the Twelfth Five Year Plan at its website. The document holds out a caution that the "attaining the growth target of 8.0 per cent envisaged in Twelfth Plan does seem challenging - especially in the context of the continuing effects of the twin global crises". The 296-page document contains nine chapters which deal with an overview of the economy and policies, macroeconomic factors, employment and skill development, governance, human resource development, physical infrastructure, environmental sustainability, agriculture and rural transformation, and urban transformation.

Excerpt:

2.14.1 While the achievements of the Eleventh Plan indicate the strengths of India’s economy, attaining the average annual growth target of 8.0 per cent envisaged in the Twelfth Plan does seem challenging – especially in the context of the continuing effects of the twin global crises. The expected annual average growth rate of GDP to be realized during the first four years of the Twelfth Plan is estimated to be 6.8 per cent; hence, the economy would have to grow in double digits during the remaining one year of the Plan period in order to achieve the targeted growth rate of 8 per cent. National and international agencies have projected that India is in fact likely to grow in the range of 7.0 to 8.0 per cent in the years 2015-16 and 2016-17. Therefore the likely achievement of GDP growth during the Twelfth Five Year Plan period would be around 7 per cent. In order to lead the economy to a higher growth trajectory, the focus should essentially be on maintaining macro-economic stability, while implementing the measures aimed at removing structural constraints and reviving stalled and stuck projects so that production and investment activity gather momentum.

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