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NITI Aayog to launch 3-year plan for economic growth

Wed, 11 Jan 2017-10:38pm , New Delhi , PTI

NITI Aayog will come out with three-year action plan within two months with a view to accelerate economic growth and make it more inclusive by focusing on the health sector. “As much as three-fourths of the draft have been prepared and we will finalise it within two months after getting inputs from ministries,” a senior government official said.

The action plan will also take into account the impact of demonetization on the economy, especially on informal sector. Government has already decided to do away with the practice preparing annual budgets on the basis of five year plans from next fiscal. This is the terminal fiscal of the 12th Five Year Plan (2012-17). According to official, the three-year action plan is required for going ahead with long drawn strategy of development.

NITI Aayog has also been entrusted with the work on the 15-year Vision Document and a seven-year strategy which would guide the government’s development works till 2030. The official said that the three-year action plan will not contain revenue projection for 2017-18, though it will have the details for 2018-19 and 2019-20. “There are areas which require greater attention. If your revenue is rising then extra revenue can be spent on health sector,” the official said.