5-Year Plans Replaced by NITI Aayog with 15-Year Vision Document [ Current Affairs ]

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Union Government’s top think tank National Institution for Transforming India (NITI) Aayog has decided to come up with a 15-year vision document in pushbike with global trends and economic growth.

  • In 2015 NITI Aayog which had substituted former Planning Commission (PC), with its 15-year idea document will also recklessness the idea of five-year plans set by the PC since 1951.

Key facts

  • After the end of the 12th Five year plan the first 15-year vision document will come into product from 2017 - 18.
  • It will be framed with central objective of extermination poverty.
  • It will originate lengthways with a seven-year National Development Agenda which will unprofessional down the packages schemes, and devices to reach the long-term vision.
  • The protracted vision document (perspective plan) will comprise of three-year macroeconomic framework.
  • The framework will forecast development pointers that will be synced with the 14th Finance Commission recommendations.
  • With the UNDP’s 2030 maintainable development areas to which India is devoted to meet complete social objectives it will also be coterminous.
  • The 15-year idea document will also include defence and central security.
  • They were not been a fragment of five-year tactics.
  • The NITI Aayog will also create a dashboard for monitoring, evaluation and review of the implementation of vision document.
  • The 14th Finance Commission orientations will continue in power until business year 2019 - 20.
  • It had favored generous states more at large coffers lengthways with better fiscal accountability in applying centrally-sponsored schemes.
  • It had amplified the state’s share in central taxes from 32 % to 42 % to this effect.
  • UNDP’s 2030 sustainable development areas contain 16 long-term boxes and 169 sub-targets to be attained by 2030.

- Published on: May 16, 2016