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Planning Commission sets up committees for mid-term review of plan

The Planning Commission has begun work on mid-term appraisal of the 12th Five-year Plan by setting up committees that will assess the performance of each sector.

, ET Bureau|
Last Updated: Nov 27, 2013, 04.56 AM IST
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The Planning Commission has begun work on mid-term appraisal of the 12th Five-year Plan by setting up committees that will assess the performance of each sector.
The Planning Commission has begun work on mid-term appraisal of the 12th Five-year Plan by setting up committees that will assess the performance of each sector.
NEW DELHI: The Planning Commission has begun work on mid-term appraisal of the 12th Five-year Plan by setting up committees that will assess the performance of each sector in the first two years of the Plan.

The move, which comes less than a year after the 12th Plan (2012-17) was finalised, aims to lay the ground for the new Planning Commission that will be constituted after the general elections due next year.

"The entire background work for doing a mid-term appraisal should be available to the new Planning Commission, which will be formed after the general elections in May next year. So, official work has to be in place by that time," a senior official at the Planning Commission told ET.

The official-level committees, which will review the performance of each sector during 2012-13 and 2013-14, will submit their reports in six months.

"The idea is to complete the work by that time so that the new commission is in a position to come up with the mid-term appraisal within one month of the Union budget, which is expected to be presented by the new government in June," the official added.

Mid-term appraisal is a routine exercise done by the Planning Commission towards the middle of the third year of every Plan. The idea is to revise the sector-wise as well as overall growth targets based on the performance of each sector in the first two years of the given Plan, so that mid-course policy corrections, if needed, could be initiated.

The 12th Plan was finalised and approved by the National Development Council in December last year.

The growth projections in the Plan were revised thrice before they were approved. The approach paper had initially projected a GDP growth of 9%, which was later scaled down to 8.2%, and finally to 8%.

The final Plan document presented three growth scenarios that could have helped the economy return to 8% growth. But although approvals have hastened, there has been little progress in actual implementation of big-ticket infrastructure projects, hurting overall growth.

The mid-term appraisal is expected to again see growth targets lowered significantly, as there has been broad consensus among the commission members that the GDP target of 8% is far too ambitious in the current economic scenario.

India's economy grew by 5% in 2012-13 against 5.5% projected and just 4.4 % in the first quarter of the current financial year.

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