B.Com Ist Year Twelfth Five Year Plan Question Answer Notes
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Table of Contents
Twelfth Five Year Plan
Q.36. Explain the objectives, strategy and challenges of the Twelfth Five Year Plan.
Ans. The Twelfth Five Year Plan started on April 1, 2012 and covers the five year period 2012-17.
The broad vision and aspirations which the Twelfth Plan seeks to fulfil are reflected in the subtitle of the Plan itself : Faster, Sustainable and More Inclusive Growth.
The target for GDP growth in the Twelfth Plan has been kept at 8.0 percent per annum. Within this aggregate growth target, emphasis has been laid on two sub-targets for inclusiveness : (i) growth rate of 4 percent for the agricultural sector over the Twelfth Plan period, and (ii) around 10 percent growth rate in the last two years of the Plan for the manufacturing sector.
The Twelfth Plan’s strategy for growth depends crucially on productivity gains as one of the key drivers of growth. According to the Plan, the traditional sources of growth-accumulation of capital and growth in labour-are not likely to be enough for India in the coming years. Therefore, more focus will be required on productivity improvements among all constituents-big businesses, farmers and even government.
INCLUSIVENESS STUDY NOTES
The Plan emphasises the following dimensions of inclusiveness:
1. Inclusiveness as Poverty Reduction : Distributional concerns have traditionally been viewed as ensuring an adequate flow of benefits to the poor and the most marginalised. This would, therefore, remain an important policy focus of the Twelfth Plan.
2. Inclusiveness as Group Equality : While poor are certainly one target group, inclusiveness must also embrace the concern of other groups such as the scheduled castes, scheduled tribes, other backward classes, minorities, the differently abled and marginalised groups. In this context, gender-based issues also need to be addressed.
3. Inclusiveness as Regional Balance : Another aspect of mclusiveness relates to whether all States, and indeed all regions, are seen to benefit from the growth process. From this angle, it is cessary to identify backward areas and design specific policies for their growth.
4. Inclusiveness and Inequality : Inclusiveness also meana greater attention to income inequality. In this context, the Plan focuses particularly on providing’greater equality of opportunity’.
5. Inclusiveness as Empowerment : Finally, inclusiveness is not just about ensuring a broad-based flow of benefits or economie opportunities, it is also about empowerment and participation Focus on empowerment and participation brings to the core issues of governance, accountability and peoples’ participation.
Each of the above dimensions of inclusiveness is important and the Twelfth Plan aims at achieving steady progress in each of them.
MONITORABLE TARGETS FOR THE TWELFTH PLAN STUDY MATERIAL NOTES
The Twelfth Plan identifies 25 core indicators that are listed below to reflect the vision of rapid, sustainable and more inclusive growth:
Economic Growth: 1. Real GDP growth rate of 8.0 percent; 2. Agriculture growth rate of 4.0 percent; 3. Manufacturing growth rate of 10.0 percent; and 4. Every State must have a higher average growth rate in the Twelfth Plan than that achieved in the Eleventh Plan.
Poverty and Employment : 5. Head-count ratio of consumption poverty to be reduced by 10 percentage points over the preceding estimates by the end of Twelfth Five Year Plan; and 6. Generate 50 million new work opportunities in the non-farm sector and provide skill certification to equivalent numbers during the Twelfth Five Year Plan.
Education : 7. Mean years of schooling to increase to seven years by the end of Twelfth Five Year Plan; 8. Enhance access to higher education by creating two million additional seats for each age cohort aligned to the skill needs of the economy; 9. Eliminate gender and social gap in school enrolment (that is, between boys and girls, and between SCs, STs, Muslims and the rest of the population) by the end of Twelfth Five Year Plan.
Health : 10. Reduce IMR (infant mortality rate) to 25 and MMR (maternal mortality rate) to 1 pe: 1000 live births, and improve child sex ratio (0-6 years) to 950 by the end of the Twelith Five Year Plan; 11. Reduce TFR(total fertility rate) to 2.1 by the end of Twelfth Five Year Plan; and 12. Reduce undernutrition among children aged 0-3 years to half of the NFHS-3 (National Family Health Survey-3) levels by the end of Twelfth Five Year Plan.
Infrastructure, Including Rural Infrastructure : 13. Inrease investment in infrastructure as a percentage of GDP to 9 per ont by the end of Twelfth Five Year Plan; 14. Increase the gross irrigated area from 90 million hectare to 103 million hectare by the end of Twelfth Five Year Plan; 15. Provide electricity to all villages and reduce AT&C losses to 20 percent by the end of Twelfth rive Year Plan; 16. Connect all villages with all-weather roads by the end of Twelfth Five Year Plan; 17. Upgrade National and State highways to the minimum two-lane standard by the end of Twelfth five Year Plan; 18. Complete Eastern and Western Dedicated Freight Corridors by the end of Twelfth Five Year Plan; 19. Increase rural teledensity to 70 percent by the end of Twelfth Five Year Plan; and 20. Ensure 50 percent of rural population has access to 55 LPCD piped drinking water supply and 50 percent of gram panchayats achieve the Nirmal Gram Status by the end of Twelfth Five Year Plan.
Environment and Sustainability: 21. Increase green cover (as measured by satellite imagery) by 1 million hectare every year during the Twelfth Five Year Plan; 22. Add 30,000 MW of renewable energy capacity in the Twelfth Five Year Plan; and 23. Reduce emission intensity of GDP in line with the target of 20 percent to 25 percent reduction by 2020 over 2005 levels,
Service Delivery: 24. Provide access to banking services to 90 percent Indian households by the end of Twelfth Five Year Plan; and 25. Major subsidies and welfare related beneficiary payments to be shifted to a direct cash transfer by the end of the Twelfth Five Year Plan, using the Aadhar platform with linked bank accounts.
THE FINANCING PATTERN OF TWELFTH PLAN STUDY MATERIAL
- Total Outlay:Rs. 80,50,123 crore (at current prices)
- Central Plan Outly: Rs. 43,33,739 crore
- Outlay of States and Union Teritories : Rs. 37,16,385 crore
- Centre’s GBS (Gross Budgetary Support) Rs. 35,68,626 crore
- Centre’s assistance to States and UTs Rs. 8,57,786 crore
- Sectoral allocation of Plan resources :
Social Services: 32.6 percent
Agriculture*: 19.6 percent
Energy : 18.6 percent
Transport : 16.7 perrcent
Industry and Minerals : 5.1 percent
Includes (i) agriculture and allied activities, (ii) rural development, (iii) special area programmes, and (iv) irrigation and flood contrel.
The Planning Commission projects an increase in resources for the Twelfth Plan from 10 Eleventh Plan to 11.80 percent in the Twelfth Pla Twelfth Plan document, the increase of 0.84 percent of resources of the Plan has to be achieved keeping borrowing within the stipulated limit and reducing the fiscal deficit of the Centre and States to 3 percent on each account in the last year of the Twelfth plan.
MAIN STRATEGIES OF TWELFTH PLAN.
- Extension of green revolution to areas of low productivity the Eastern Region.
- Revamping National Food Security Mission (NFSM). Tar gets under NFSM:(i) increasing foodgrains production by 25 million tonnes, (ii) increasing production ofoilseeds byat least 4.5 percent per annum.
- Launching of National Mission for Sustainable Agriculture (NMSA).
- Increasing manufacturing sector’s share in GDP from 16 percent at present to 25 percent by 2025.
- Paradigm shift in industrial policy to ensure close coordination between producers and the government policymakers.
- Manufacturing plan strategy to focus on (i) capabilities and processes, (ii) strengthen the performance of 17 identified sectors, and (iii) institutional ability for effective consultation and collaboration between producers and public policymakers and implementers and the systemic reform of existing systems and processes within the government.
- Strengthening infrastructure with active cooperation of the private sector through PPP (public private participation mode.
CHALLENGES OF TWELFTH PLAN NOTES
According to the Twelfth Plan Document, the Plan has commenced in circumstances which are less favourable than at the start of the Eleventh Plan in 2007-08. “At that time, the economy was growing robustly, the macroeconomic balance was improving and global economic developments were supportive. The situation today is much more difficult. The global economy is going thought what looks like a prolonged slowdown. The domestic economy also run up against several internal constraints. Macroeconomic inbalances have surfaced following the fiscal expansion undertaken
after 2008 to give a fiscal stimulus to the economy. Inflationary pressures have built up. Major investment projects in energy and transport have slowed down because of a variety of implementation problems. Some changes in tax treatment in the 2012-13 have caused uncertainty among investors.”
According to the Plan document, the assumption of growth in tax revenues of the Centre and States built into the projections is not unreasonable. However, containing expenditures to the projected level would be difficult. In this context, the document states, “There is inevitable upward pressure of increasing expenditure on subsidies, particularly on fertiliser and petroleum due to increasing international crude oil prices and also on food owing to proposed food security legislation. The subsidy regime needs to be urgently reformed to keep the total subsidy within the ceiling of 1.5% of GDP in 2016-17.