New Delhi: Country's apex planning body National Development Council (NDC), a body of all Chief Ministers and key Union Ministers - headed by Prime Minister Manmohan Singh, is slated to meet in New Delhi on December 27 to approve the 12th five year plan (2012-17).

The Union Cabinet had on 4th October 2012 approved the 12th five-year plan with its aim to renew Indian economy and use the funds allocated by the government in improving the facilities of education, sanitation and healthcare. This plan has seen a three-fold increase in the budget constraints when compared to that of the 11th five-year plan. The plan would infuse a huge fund of Rs 47,70,000 lakh crore and this will help to accomplish the economic growth to an average level of 8.2 percent.

The five-year plan is guided by the policy guidelines and principles to revive the Indian economy, which registered a growth rate of meager 5.5 percent in the first quarter of the financial year 2012-13.

Besides other things, the 12th Plan seeks to achieve four percent agriculture sector growth during 2012-17. The growth target for manufacturing sector has been pegged at 10 percent.

The total plan size has been estimated at Rs 47.7 lakh crore, 135 per cent more that of the 11th Plan (2007-12).

During the 11th Plan (2007-12), India has recorded an average economic growth rate of 7.9 percent. This, however, is lower than the nine percent targeted in 11th Plan.

(JPN/Agencies)

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