You are here: Home » Economy & Policy » News

Five-Year Plans officially declared dead from FY18

The Niti Aayog is preparing 15-year vision document that will replace the Five-Year Plan from the next financial year

It is official: Five-Year Plans will come to an end with the conclusion of the 12th Five-Year Plan on March 31, 2017, closing another chapter in India’s Nehruvian legacy.

A circular issued by the on Thursday said, “There will henceforth be no Five-Year Plan post the 12th Plan.” The circular basically justified the need for doing away with Plan and non-Plan classification of government expenditure and replacing it with revenue and capital break-up.

There were indications that the Five-Year Plans would be scrapped once the Planning Commission was replaced with the Niti Aayog from January 1, 2015.

However, Niti Aayog will come up with a review of the 12th Five-Year Plan. It will not be a mid-term review, but an assessment of the first four years of the Plan, which means a period between 2012-13 and 2015-16, sources said.

The Niti Aayog is already preparing 15-year vision document that will replace the Five-Year Plan from the next financial year.

This will be framed keeping in mind the country's social goals and the sustainable development agenda. There will also be a seven-year National Development Agenda which will lay down the schemes, programmes and strategies to achieve the long-term vision. Officials said the National Development Agenda will be reviewed after a gap of every three years to ensure that it was aligned with financial needs and requirements.

For the first Development Agenda, the review would be done in 2019-20, in line with the termination year of the 14th Finance Commission. The National Development Agenda will also deal with issues related to internal security, defence and external affairs. The Five-Year Plans first started in 1951 under the country's first prime minister Jawaharlal Nehru. In July 1951, the Planning Commission presented a draft outline of a plan of development for the period of five years, starting from April 1951.

Since then, India regularly had Five-Year Plans till the 12th one, which ends this year, except 1966-69, when the five-year Plans were replaced with annual Plans. There were no Five-Year Plans in 1979-80 and 1990 to 1992..

image
Business Standard
177 22
Business Standard

Five-Year Plans officially declared dead from FY18

The Niti Aayog is preparing 15-year vision document that will replace the Five-Year Plan from the next financial year

Indivjal Dhasmana  |  New Delhi 

Finance Minister Arun Jaitley (right) and Chief Economic Advisor Arvind Subramanian share a light moment after a press briefing in New Delhi on Thursday
Finance Minister Arun Jaitley (right) and Chief Economic Advisor Arvind Subramanian share a light moment after a press briefing in New Delhi on Thursday

It is official: Five-Year Plans will come to an end with the conclusion of the 12th Five-Year Plan on March 31, 2017, closing another chapter in India’s Nehruvian legacy.

A circular issued by the on Thursday said, “There will henceforth be no Five-Year Plan post the 12th Plan.” The circular basically justified the need for doing away with Plan and non-Plan classification of government expenditure and replacing it with revenue and capital break-up.


There were indications that the Five-Year Plans would be scrapped once the Planning Commission was replaced with the Niti Aayog from January 1, 2015.

However, Niti Aayog will come up with a review of the 12th Five-Year Plan. It will not be a mid-term review, but an assessment of the first four years of the Plan, which means a period between 2012-13 and 2015-16, sources said.

The Niti Aayog is already preparing 15-year vision document that will replace the Five-Year Plan from the next financial year.

This will be framed keeping in mind the country's social goals and the sustainable development agenda. There will also be a seven-year National Development Agenda which will lay down the schemes, programmes and strategies to achieve the long-term vision. Officials said the National Development Agenda will be reviewed after a gap of every three years to ensure that it was aligned with financial needs and requirements.

For the first Development Agenda, the review would be done in 2019-20, in line with the termination year of the 14th Finance Commission. The National Development Agenda will also deal with issues related to internal security, defence and external affairs. The Five-Year Plans first started in 1951 under the country's first prime minister Jawaharlal Nehru. In July 1951, the Planning Commission presented a draft outline of a plan of development for the period of five years, starting from April 1951.

Since then, India regularly had Five-Year Plans till the 12th one, which ends this year, except 1966-69, when the five-year Plans were replaced with annual Plans. There were no Five-Year Plans in 1979-80 and 1990 to 1992..

RECOMMENDED FOR YOU

Five-Year Plans officially declared dead from FY18

The Niti Aayog is preparing 15-year vision document that will replace the Five-Year Plan from the next financial year

The Niti Aayog is preparing 15-year vision document that will replace the Five-Year Plan from the next financial year
It is official: Five-Year Plans will come to an end with the conclusion of the 12th Five-Year Plan on March 31, 2017, closing another chapter in India’s Nehruvian legacy.

A circular issued by the on Thursday said, “There will henceforth be no Five-Year Plan post the 12th Plan.” The circular basically justified the need for doing away with Plan and non-Plan classification of government expenditure and replacing it with revenue and capital break-up.

There were indications that the Five-Year Plans would be scrapped once the Planning Commission was replaced with the Niti Aayog from January 1, 2015.

However, Niti Aayog will come up with a review of the 12th Five-Year Plan. It will not be a mid-term review, but an assessment of the first four years of the Plan, which means a period between 2012-13 and 2015-16, sources said.

The Niti Aayog is already preparing 15-year vision document that will replace the Five-Year Plan from the next financial year.

This will be framed keeping in mind the country's social goals and the sustainable development agenda. There will also be a seven-year National Development Agenda which will lay down the schemes, programmes and strategies to achieve the long-term vision. Officials said the National Development Agenda will be reviewed after a gap of every three years to ensure that it was aligned with financial needs and requirements.

For the first Development Agenda, the review would be done in 2019-20, in line with the termination year of the 14th Finance Commission. The National Development Agenda will also deal with issues related to internal security, defence and external affairs. The Five-Year Plans first started in 1951 under the country's first prime minister Jawaharlal Nehru. In July 1951, the Planning Commission presented a draft outline of a plan of development for the period of five years, starting from April 1951.

Since then, India regularly had Five-Year Plans till the 12th one, which ends this year, except 1966-69, when the five-year Plans were replaced with annual Plans. There were no Five-Year Plans in 1979-80 and 1990 to 1992..
image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard