National Development Council approves 12th Five Year Plan
As per the "aspirational" scenario one -- of strong inclusive growth -- India's economic growth will be average 8 per cent in the five years.
The document also cautions that in scenario of "policy logjam", the GDP growth could slow down to 5-5.5 per cent.
The document proposes to bring down poverty by 10 percentage points by the end of the 12th Plan and generate five crore new jobs in non-farm sector.
As regard the infrastructure sector, it says that efforts should be made to increase investment in this sector to 9 per cent of the GDP by the end of the Plan period.
The other targets include increasing green cover by one million hectare every year and adding 30,000 MW of renewable energy generation capacity in the Plan period.
It also seeks to reduce emission intensity of the GDP in line with the target of 20-25 reduction by 2020 over 2005 levels.
Although the document envisages 6.7 per cent growth rate in the current fiscal, it has been projected at 5.7-5.9 per cent in 2012-13 by the Finance Ministry.
The strategy for the full Plan would aim at raising agriculture output to 4 per cent and manufacturing sector growth to 10 per cent.
It also wants all the states to set higher targets of growth than what was achieved in the 11th Five Year Plan.
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