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Montek hopes that Mid Term Review is ready by next budget

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  • The economy grew around 7.2 per cent during the first two years of the plan, but even after assuming most optimistic projections for the current year, it becomes evident that the envisaged plan targets would remain elusive. The commission feels that even sectoral targets set in the plan document have not been followed strictly because of the impact of slowdown on the economy, despite huge allocations made for some sectors to insulate vulnerable sections of the society.

    To have a more credible appraisal, the plan panel would involve external agencies and other stakeholders to ensure that the review has more meaningful findings and recommendations that result in implement able changes in the approach paper. To give more credibility to the plan process, the meeting also decided to concurrently start the process of 12th plan formulation, which begins from April 2012.

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