Previous Year Question
What is the expected target of development in the ‘vision paper’ of the 12th Five Year Plan (2012-2017) as accepted by the National Development Council?
7%
8%
9%
10%
Correct Answer: C
Detailed Solution
The Approach Paper prepared by the Planning Commission for the Twelfth Five Year Plan (2012–2017) proposed a target of 9% average annual economic growth for India. This document was approved by the National Development Council (NDC) in October 2011.
The main theme of the Approach Paper for the Twelfth Five Year Plan was Faster, Sustainable and More Inclusive Growth. Its objective was not merely to increase Gross Domestic Product (GDP) growth but also to ensure wider distribution of the benefits of economic development and environmental sustainability.
The Plan prioritised agricultural development, Infrastructure, education, healthcare, skill development, and natural resource management. Under Inclusive Growth, emphasis was placed on expanding access to economic opportunities and essential services across different social and economic groups.
The growth targets of the Approach Paper and the final Plan were different. The Approach Paper approved in 2011 proposed an average annual growth rate of 9%. Later, considering the domestic economic slowdown and global economic uncertainties, the final Twelfth Five Year Plan approved in December 2012 reduced the average annual GDP growth target to 8%.