Niti Ayog to replace five-year plan by 15-year vision plan

Yash Goyal

Jaipur, July 9

Hailing the Indian economy of two years under Prime Minister Narendra Modi, Niti Ayog Vice-Chairman Arvind Pangariya on Saturday said the “15-Year Vision Plan” is being written by NITI as the last five year plan under the 12th Five Year Plan would end with the fiscal year 2016-17.

The last five year plan under the 12th Five Year Plan will be completed in March next year, and Niti Ayog has just started process of writing the 15-Years Vision Plan, beginning FY 2017-18, complemented by seven years’ strategy and three years of detailed macro framework action plan, Pangariya said, while speaking on the ‘Economy of two years under PM Modi’ at University of Rajasthan Syndicate Hall here.

“Niti Ayog, after dropping the Planning Commission name has abolished the five year one, so it is going to be 15 year vision as designed under the PM Modi government’s future strategy,” he said.

Niti Ayog has also recommended to the Union Government for strategic disinvestment in public sector units (PSUs) besides closing down sick firms which could not be revived, he said. Niti Ayog has identified 10 such PSUs and recommended the government for disinvestment, and the Finance Ministry would take up this process, he added.

In his over one-hour lecture, Pangariya said the NITI Aayog had been tasked by the government to identify central public sector enterprises for strategic disinvestment.