New Delhi: In order to attain 9 percent economic growth during the 12th Five Year Plan period, the Central government is all set to strengthen its management system and bring transparency in implementation of development schemes.

A meeting of the Planning Commission is scheduled to take place under the Chairmanship of Prime Minister Manmohan Singh on Saturday to finalize the approach paper to the 12th FYP.

“India is the third largest economy after the US and China in terms of Gross Domestic Product (GDP) and it can achieve the growth rate of 9 percent,” said Planning Commission Deputy Chairman Montek Singh Ahluwalia adding that the annual growth rate of agriculture is projected at 4 percent in the approach paper of the 12th Plan.

“The Five Year Plan also aims at curbing inflation and poverty. The economic growth rate may remain at 8.3 percent for the current fiscal,” Ahluwalia added.

“The 12th FY Plan will focus on strengthening the functioning of power sector. The Planning Commission believes the tariff should essentially be cost based without any cross subsidization. The state electricity boards are running under huge financial loss of Rs 70,000 crore,” said the Deputy Chairman.

Given the rapid urbanization, the basic infrastructural facilities like education for all, safe drinking water, will be the key parts of the 12th FYP. According to a report of the Commission, around 20 crore people are expected to migrate to urban areas over the next 20 years.

The Plan Panel is also likely to discuss the measures for increasing ground water level as well as the issues of water conservation.

The Public Private Partnership (PPP) model should be opted for making investment of USD 1 billion in areas like rural roads, agriculture and the development of basic infrastructure.