According to Union Finance Secretary Ratan P. Watal, NITI Aayog, the government's policy think tank, is working on a sector-based medium term planning framework.
The new framework would replace five-year plans, the last (the 12th five year plan) of which is set to end in 2016-17.
As indicated in the Budget Speech of Union Finance Minister Arun Jaitley, from the next financial year, the plan and non-plan distinction will be done away with for expenditure classification. A good step indeed!
One would wish to emphasise here that some economist take up an analytical study of the former Planning Commission and its utility since its inception vis a vis the expenses incurred in terms of money and time (manpower) resources till date.
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The new framework would replace five-year plans, the last (the 12th five year plan) of which is set to end in 2016-17.
As indicated in the Budget Speech of Union Finance Minister Arun Jaitley, from the next financial year, the plan and non-plan distinction will be done away with for expenditure classification. A good step indeed!
One would wish to emphasise here that some economist take up an analytical study of the former Planning Commission and its utility since its inception vis a vis the expenses incurred in terms of money and time (manpower) resources till date.
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