Country's apex policy making bodyNational Development Council (NDC) is likely to meet in thefirst week of next month to approve 12th Plan (2012-17) thatseeks to lower the annual economic growth to 8.2 per cent from9 per cent envisaged earlier in the five year policy period.
"The NDC is likely to meet in the first week of Novemberto approve the draft 12th Plan document," a source privy tothe development said.
The full Planning Commission and Union Cabinet havealready approved the draft 12th Plan document.
The document will now be placed before the NDC for finalapproval. Once NDC gives green signal to it, the document willbecome the government policy to be followed during the fiveyear period ending March 31, 2017.
The NDC, headed by Prime Minister Manmohan Singh with allchief ministers and Cabinet ministers on board, is the finalauthority to set national policies like Five-Year Plan.
In view of the ongoing global problems, the averageannual growth target for the 12th Plan has been scaled down to8.2 per cent from 9 per cent envisaged in the Approach Paperto the 12th Plan.
During the 11th Plan (2007-12), India recorded an averageeconomic growth rate of 7.9 per cent. This, however, is lowerthan the 9 per cent targeted during that plan period.
Besides other things, the 12th Plan seeks to achieve 4per cent agriculture sector growth. The growth target formanufacturing sector has been pegged at 10 per cent during2012-17.
The total plan size has been estimated at Rs 47.7 lakhcrore, 135 per cent more that for the 11th Plan (2007-12).
As regards poverty alleviation, the Commission aims tobring down the poverty ratio by 10 per cent. At present, 30per cent of the population is below poverty line.