Prime Minister of India - Dr. Manmohan Singh

PM's concluding remarks at the Full Planning Commission meeting

"We have had a very thorough and stimulating discussion of some of the critical issues that the economy will face in the Twelfth Plan period.

I would like to thank the Ministers for their comments. I think we can all agree that the presentation on objectives and challenges made by the Planning Commission has been generally endorsed by the Ministers.

There was general agreement that the Planning Commission should focus on policy and governance reforms, while working towards a growth target of between 9.0 to 9.5 percent for the Twelfth Five Year Plan. We should also set monitorable targets related to different dimensions of inclusiveness, and then work to achieve these targets by appropriate design of policy and funding of Plan schemes.

We have had a preliminary discussion of resource availability during the Twelfth Plan period. The Planning Commission presentation has rightly emphasized the importance of working within the overall target of fiscal consolidation. This is an important constraint that we must recognize. The Planning Commission and Finance Ministry together must come up with a realistic assessment of Plan size for the Centre and the States.

Many of the Ministers have made a number of important points, some of which elaborate the ideas in the presentation, while some also add new dimensions. I have particularly noted the suggestions of the Finance Minister to improve the functioning of the legal system and methods of dispute resolution, and on improving the functioning of key infrastructure sectors. Other Ministers have also made a number of suggestions for different sectors.

The Planning Commission should take account of all the comments made today and prepare a draft Approach to the Twelfth Plan as quickly as possible. It goes without saying that sustainability and low carbon issues should be kept in mind. This document should be discussed with the States in regional consultations that have been mentioned.

Thereafter a revised Approach document could be circulated to Ministries concerned. The Approach paper can then be brought to the Cabinet, after which it could go to the National Development Council. We should aim at an NDC meeting sometime in July."