The Council, which comprises all chief ministers, administrators of union territories and NITI Aayog members, will deliberate upon the 15-year road map for development.
"This time the meeting of the Governing Council will be held at Rashtrapati Bhawan," a senior government official said.
The council, with all chief ministers on board, will also discuss 3-year action plan and 7-year development strategies.
Since the government has done away with five-year plans with effect from April 1, it is imperative that the new three- year action plan is put in place at the earliest to guide various central ministries, departments and states to achieve the goal envisaged in the 'Vision 2030' document.
The 12th Five-Year Plan, the last in the series, was terminated on March 31.
The new three-year plan will also provide in detail the government's expenditure classification on the basis of capital and revenue categories.
The government has also done away with the classification of Plan and non-Plan expenditure.
The policy-making body had been mandated to come up with a 15-year vision document for a period up to 2030, which will be co-terminus with sustainable development goals.
The NITI Aayog has also been working on a 7-year strategy starting from the current financial year 2017-18 to 2023-24 to convert the vision document into implementable policy and action as part of the National Development Agenda.
It has also prepared a draft of the 3-year action plan for 2017-18 to 2019-20 which will be aligned with the 14th Finance Commission award period.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)