By IANS
New Delhi : India’s Rs.36.44 trillion ($910 billion) 11th Five Year Plan was approved by the National Development Council (NDC) here Wednesday with the promise to accelerate growth and make it more inclusive.
“I am happy that the NDC has blessed the 11th Five Year Plan,” a visibly pleased Deputy Chairman of Planning Commission Montek Singh Ahluwalia said, after day-long deliberations led by Prime Minister Manmohan Singh.
Chief ministers and lieutenant governors of states and some key ministers of the central government discussed its finer points before giving their nod to the plan, which focuses on education, agriculture and health.
The prime minister also proposed several task forces and expert groups to deal with areas like irrigation, agriculture, industry and infrastructure.
“Towards Faster and More Inclusive Growth” is the central theme of the plan that runs from 2007-08 to 2011-12 and seeks to lower poverty by 10 percentage points, generate 70 million new jobs and reduce unemployment to less than five percent.
As many as 27 detailed national targets have been set in the plan ranging from enhancing incomes and reducing poverty, to education, literacy, health, infant mortality, maternal mortality and child development.
In his opening remarks at the deliberations, the prime minister said India can not only sustain its high growth momentum but also push it to 10 percent with right policies and dedication.
“Our economy has demonstrated resilience in meeting the challenges posed by globalisation. In the last two decades, our industry – both large and small – has restructured and become globally competitive,” he said.
“It is possible that with correct set of policies and dedicated effort by both the central and state governments, we will not only maintain this momentum of high growth but may be able to raise it to 10 percent,” he added.
The prime minister also asked for several task forces within the plan panel, which he chairs, in areas like irrigation, agriculture, hill states, quick clearances for industrial and infrastructure projects.
The 54th NDC meeting came in the backdrop of Indian economy registering a growth of over 7.5 percent during the 10th five-year plan and with the target of scaling it up to over nine percent in the ensuing five years.