Twelfth Five Year Plan (2012 – 2017)
according to the study based on the economic reforms in India, it is necessary to construct a strong idea about the Twelfth five-year planning and its impact on the Indian economy.
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Economic Planning-Twelfth Five Year Plan has been developed to improve several factors associated with the economic issues in the country. However, the policy constructs a strong policy that increases the potentiality of sustainable financial growth of the country. As per the primary criteria of the Twelfth five-year planning in the year 2012, it focuses on the employment objectives of the country as well as tries to fulfill around 50 million work opportunities. As per the plannings, it is clear that the government tries to implement a new and developed economic structure that can mitigate the issues related to the financial structure of the country. The gender gap and the social gap are the other factors that decrease a country’s financial strength.
What are the Key Facts of the twelfth five-year plans in India?
The twelfth five-year plan was launched under the influence of the Manmohan Singh government and the main aim or vision of the twelfth five-year plan was more inclusive, faster, and sustainable growth in the economy. Targeted GDP growth rate during twelfth five year plan (2012-2017) was 8% and main aspiration of twelfth five year plan was to give priority on power generation for bringing more growth in economy and targeted power generation estimation was 1 lakh MW which was 50000 MW during eleventh five year planning. Twelfth five year plan (2012-2017) put special emphasis on building a private public partnership model to bring more growth and sustainability to the economy. Twelfth five year planning duration was 2012 to 2017 and it was the last five year plan in India. After the 12th five year plan, the planning commission was dissolved by the NDA government and NITI Ayog replaced the planning commission in India.
Main objectives of the twelfth five-year plan in India
The twelfth five years plan took the pledge to create 50 million new employability and job opportunities in the non-farm sector. It gave priority to removing the gender gap in society and mitigation of the social gap was taken into consideration during the twelfth five-year planning. The twelfth five-year plan stressed enhancing and expanding access to higher education to bring reform to the education sector. The government took initiative to reduce malnutrition and its impact on children aged between 0-3 years. The Twelfth five-year plan (2012-2017) put special emphasis on providing electricity access to all villages and access to drink water to every household was given priority during the twelfth five-year plan.
Conclusion
According to the analysis and study based on the Twelfth five-year plan, it is obvious that the initiative is one of the most important steps to increase the potential growth of the Indian economy. Under the leadership of the Prime Minister of India, the central government has taken the initiative to control the basic issues related to the financial structure of the country. As per the study, it is obvious that Twelfth five-year planning has a severe impact on the economic growth as well as it increases the potentiality of job opportunities among the people of the country as the first step of mitigating the financial issues.