The 12th Five-Year Plan

The Union Cabinet has approved the 12th Five-Year Plan, aimed at rejuvenating India’s economy and infusing higher government funding in key social sectors such as health, education and sanitation. The Rs 47,70,000 lakh crore Plan, three times the size of the last one, targets economic growth at 8.2%. It also aims to attract one trillion USD private investment in the infrastructure sector and reduce the subsidy burden of the government to around 1.5% of GDP, from over 2% of GDP now.

The Union Cabinet has approved 49% Foreign Direct Investment (FDI) limit in insurance and pension funds.

Author: gktoday

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