Since 1947, the Indian economy has been premised on the concept of planning. This has been carried through the Five-Year Plans, developed, executed, and monitored by the Planning Commission (NITI Aayog after 2014).
With the Prime Minister as the ex-officio Chairman, the commission has a nominated Deputy Chairman, who holds the rank of a Cabinet Minister. Montek Singh Ahluwalia is the last Deputy Chairman of the Commission (resigned on 26 May 2014).
Twelfth Plan (2012–2017) :
The Twelfth Five-Year Plan of the Government of India has decided for the growth rate at 8.2% but the National Development Council (NDC) on 27 Dec 2012 approved 8% growth rate for 12th five-year plan.
With the deteriorating global situation, the Deputy Chairman of the Planning Commission Mr Montek Singh Ahluwalia has said that achieving an average growth rate of 9 percent in the next five years is not possible. The Final growth target has been set at 8% by the endorsement of plan at the National Development Council meeting held in New Delhi.
The government intends to reduce poverty by 10% during the 12th Five-Year Plan. Mr Ahluwalia said, “We aim to reduce poverty estimates by 9% annually on a sustainable basis during the Plan period. Earlier, addressing a conference of State Planning Boards and Planning departments, he said the rate of decline in poverty doubled during the 11th Plan.
The commission had said, while using the Tendulkar poverty line, the rate of reduction in the five years between 2004–05 and 2009–10, was about 1.5% points each year, which was twice that when compared to the period between 1993–95 to 2004–05.
The plan aims towards the betterment of the infrastructural projects of the nation avoiding all types of bottlenecks. The document presented by the planning commission is aimed to attract private investments of up to US$1 trillion in the infrastructural growth in the 12th five-year plan, which will also ensure a reduction in subsidy burden of the government to 1.5 percent from 2 percent of the GDP (gross domestic product).
The UID (Unique Identification Number) will act as a platform for cash transfer of the subsidies in the plan.
List of Deputy Chairman of the Planning Commission :
Gulzarilal Nanda (Minister of Planning, later Prime Minister of India)
Sir V.T. Krishnamachari
Sir C.M. Trivedi
Ashok Mehta (Minister of Planning)
C. Subramaniam(Minister of Planning)
Durga Prasad Dhar (Minister of Planning)
Narayan Dutt Tiwari (Minister of Planning)
S.B. Chavan (Minister of Planning)
Prakash Chandra Seth (Minister of Planning)
P.V. Narasimha Rao (later Prime Minister of India)
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