Detailed discussion reqd before replacing Plan panel:Y K Alagh

A detailed discussion is required before replacing the 64-year Planning Commission, noted economist and Chancellor of Central University of Gujarat, Y K Alagh said today.
"The present Planning Commission may be replaced by a more focused body concentrating on issues like energy, water and demographics, which have a long term perspective as in China where the state planning committee was replaced by the National Economic and Social Development Commission," he said while delivering 7th Raj Krishna Memorial Lecture here at Rajasthan University.
He defended Planning Commission by giving emphasis on the critical situation the country is facing in three key areas -- demographic dividend, energy and water.

He further said these areas needed long-term planning and resource allocation which was the key activity of Planning Commission.
"If Planning Commission is to be dissolved, first we have to look for its alternative after due discussion," he said.
"The resource allocation is an important function of Planning Commission and States are already asking the Centre for their plan budgets as they are in the process of designing budgets for the next financial year," he added.

Emphasising on the need to have nutrition, health and education profile for deriving demographic dividends, Alagh also referred towards a possible bonus that women could add to the growth rate if there were sound policies.

Presiding over the event, Professor V S Vyas, former Vice Chairman, Rajasthan State Planning Board, and member on PM Economic Advisory Council, underlined the need for long-term planning for resolving existing problems.
Vyas said there is a need for strong monetary support for the alternative body that replaces Planning Commission. He was in favour of making Finance Commission a permanently functioning body.