At Rs 47.7 lakh cr, 12th plan outlay targets high growth

Aimed at pushing the average annual economic growth to 8.2 per cent during the 12th Plan [2012-17], the Planning Commission has proposed total outlay of Rs 47.7 lakh crore during the five-year long policy period.

The total investment proposal during the period represents an 135 per cent increase over investments achieved in the 11th plan [2007-12], sources said.

Out of the proposed expenditure of Rs 47.7 lakh crore, the centre will have to provide Rs 27.1 lakh crore as budgetary support to the plan activities. The remaining amount will have to be raised by the central ministries and departments through internal and extra budgetary resources.

The 12th plan document, which is being given final touches by the commission, will be placed before the meeting of the full Planning Commission to be chaired by Prime Minister Manmohan Singh on Saturday.

Besides other things, the commission proposes to raise the average annual growth target during the five-year period to 8.2 per cent, as against 7.9 per cent achieved in the 11th plan.

The document, which provides details of different growth scenarios for the five-year period, has cautioned that growth rate could slip to five per cent this fiscal if adequate steps were not taken to boost investment.

As per the investment proposal, the five-year outlay for the Ministry of Petroleum and Natural Gas has been pegged at Rs 5.6 lakh crore, representing an increase of 116 per cent over the investment in the 11th plan.

The total outlay for the Railways in the 12th plan is being proposed at Rs 4 lakh crore, up from Rs 1.9 lakh crore in the previous plan. Similar amounts will be spent on rural development and power.