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PM to chair NITI's Governing Council meet on Sunday

Press Trust of India  |  New Delhi 

Prime Minister Modi will chair the upcoming meet of NITI Aayog's Governing Council on Sunday, which is poised to draw up a 15-year development road map called Vision 2030. The council, with all chief ministers on board, will also deliberate on the 3-year action plan and 7-year strategy to lay down short- and medium-term policy to accelerate economic development and address the issues hampering infrastructure growth relating to road, and power. The day-long meeting of the council, the apex decision making body, is to be held at the on April 23, a senior official said. Apart from the action plan, the strategy and the vision document, the performance of 12th Five Year Plan (2012-17) is up for discussion. Since the 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 central ministries, departments and states to achieve the goal of the Vision 2030 document. The 12th Five-Year Plan, the last in the series, was terminated on March 31. The new three-year action plan will provide in detail the government's expenditure classification on the basis of capital and revenue categories.

The has also scrapped the classification of Plan and non-Plan expenditure. The policy-making body has 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 for 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.)

First Published: Fri, April 21 2017. 17:22 IST