The government has formed a working group on savings for the 12th Five Year Plan under the chairmanship of Subir Gokarn to suggest measures to boost savings in the country. The 12th Five Year Plan begins in 2012-13.
The committee, which met for the first time in New Delhi last week, has been asked to submit its report before the government within six months from now.
Chaired by Gokarn, the meeting also was attended by officials from the Planning Commission, RBI, State Bank of India, Nabard and Sidbi. Being the first meeting of its kind, the panel asked different members of the committee to come up with their notes on various issues relating to savings like how to estimate the small savings in the future and how to bridge the savings gap and so on, a member of the committee told FE.
?We also discussed what could be the savings estimate for the proposed plan period,? a member of the committee said, and added it was also decided to form another sub-group to dwell upon financial issues on small savings.
