New Delhi: A meeting of the full Planning Commission is scheduled for 6 August to decide the financing pattern of the 11th Five Year Plan, which seeks to achieve an average 9% economic growth rate during 2007-12.
The full panel, which was to take a view on a proposal to improve higher and technical education, has deferred the discussion on the subject as it needs more time to build a consensus on the action plan, Commission sources said.
Among the important things, the meeting to be chaired by Prime Minister Manmohan Singh, will decide on the Gross Budgetary Support (GBS) to the 11th Plan.
While the Working Group on Assessment of Financial Resources for the 11th Plan has suggested a total GBS of Rs15,76,000 crore for the five-year period, the Commission wants the government to “top up” the GBS with additional funds in the second and third years of the Plan.
The GBS for the 2007-08 has been pegged at Rs2,05,100 crore in the budget for the current fiscal. Although the working group has recommended a GBS of Rs2,21,772 crore during 2008-09, the Commission is pitching for an additional Rs27,959 crore.
Similarly, for the third year of the Plan, the Commission is seeking an additional Rs 24,709 crore over the working group’s recommendation of Rs2,77,565 crore. The GBS for the fourth and the fifth year, however, can be reduced by Rs 6,095 and Rs 48,523 crore over Rs3,73,882 crore and Rs 4,97,835 crore respectively, keeping the overall allocation within the total plan GBS of Rs15,76,154 crore, the Commission suggested.