Niti Aayog close to finalising 3-year action plan, 15-year vision document

Govt decided to do away with annual budgets on the basis of 5-year plans from the current FY

Government think-tank Niti Aayog is at an advanced stage of finalising 3-year action plan and the 15-year vision document for the country, Parliament was informed on Monday.

It will also unveil a 7-year strategy document.

The government has decided to do away with the practice of preparing annual budgets on the basis of 5-year plans from the current financial year (FY). FY17 was the terminal fiscal of the 12th Five Year Plan (2012-17).

"The three year action plan along with 7 year strategy and 15 year vision document is at an advanced stage of finalisation," Minister of State (Independent Charge) of Planning Rao Inderjit Singh said in a written reply to Rajya Sabha.

He said that in accordance with the National Development Agenda, the government had decided to formulate a Vision Document beyond March 31, 2017.

The vision document will have a 15-year perspective, up to 2030; a 7-year strategy paper for achievement of the Agenda (from 2017-18 to 2023-24) and a 3-year Action Plan beyond March 31, 2017 for overall development of the country, he said.

Singh said consultations with stakeholders have been done by Niti Aayog including eminent economists, business editors, agriculture experts in the science, technology as well as innovation sector, experts in defence and internal security matters and states and UTs.