Millennium Post

Centre clears twelfth five-year plan

The government on Thursday approved the 12th Five-Year Plan  [2012-17] document that aims to achieve annual average economic growth rate of 8.2 per cent, down from from 9 per cent envisaged earlier, in view of fragile global recovery.

The union cabinet discussed and approved the draft 12th plan document, finance minister P Chidambaram said. The document has already been approved by the full Planning Commission headed by prime minister on 15 September.

The document will now be placed before the National Development Council  [NDC] for the final approval. The NDC, headed by the prime minister with all chief ministers and cabinet ministers on board, is the final authority to approve the document. In view of the ongoing global problems, the average annual growth target for the 12th Plan has been scaled down to 8.2 per cent from 9 per cent.

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