The Planning Commission today envisaged creating seven crore new jobs in the next five years and doubling per capita income in 10 years — a feat that would greatly reduce poverty and result in inclusive growth, reports PTI.
These achievements would make growth process more inclusive, but require the economy to grow at 10 per cent by the end of 11th Five-Year Plan.
“The economy has many important strengths that are reflected in the acceleration of growth witnessed in the past few years. But our growth has not been sufficiently inclusive and failures in this area are significant,” says the draft of the Approach Paper to the 11th Five-Year Plan.
“Therefore, our targets have to be redefined and policies restructured to ensure that growth in the future is more inclusive,” it said.
To reduce the number of people living in poverty, the Commission has suggested doubling the per capita income in the next ten years, which would require achieving 10 per cent economic growth by the end of the 11th plan and sustaining it through the 12th plan.
India’s GDP is presently 785 billion dollars and the country has a per capita income of over 700 dollars.
If these targets are achieved, the Planning Commission said it would result in reducing the number of people living in poverty by 10 percentage points by the end of 11th Plan.
With a special emphasis on the social sector development, the commission has said that a central part of the vision of 11th plan must be to extend access to essential public services such as health, education, clean drinking water, sanitation among others, which are currently denied to large parts of our population, especially in rural areas. PTI