The Union Government in the second week of May 2016 decided to replace 5-year plans with 15-year vision documents.
The long-term perspective plans will be prepared by the National Institution for Transforming India (NITI) Aayog beginning from 2017-18 financial year.
Features of 15-year vision document
• Unlike the earlier 5-year plans, the new document will also cover subjects like internal security and defence.
• The previous twelve 5-year plan documents, for the period between 1951 and 2017, focused on social and economic infrastructure like health, connectivity and education.
• The decision to bring internal security and defence in the ambit of the vision document is in tune with the government’s announcement to done away with plan and non-plan expenditure from 2017-18.
• The initial vision document will be co-terminus with the United Nations Sustainable Development Agenda (2016-2030) to which India is a signatory.
• To convert the long term vision into an implementable policy, a 7-year strategy will be prepared by the NITI Aayog as part of the National Developmental Agenda.
• The strategy will be for 2017-18 to 2023-24. There will also be a mid-term review of the strategy in the year ending March 2020.
• Besides, a 3-year action Plan for 2017-18 to 2019-20 will be prepared to align the National Development Agenda with the 14th Finance Commission award period (2015-20).
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