The National Development Council will meet on September 1 to formally approve the approach paper to the 10th Five Year Plan.
The NDC brings together the chief ministers of all states and the Union finance minister.
The NDC meeting will be presided over by the Prime Minister. It is the final decision making body with the power to approve the approach paper as well as the Plan document subsequently.
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The decision to place the draft paper before the NDC was taken by the full meeting of the Planning Commission, again headed by Prime Minister in July. The 10th Plan will run from 2002 to 2007. The approach paper has recommended targeting an eight per cent rate of growth of the economy , by concentrating on the latent investment potential of the economy as well as focussing on agriculture to raise its growth rate to 4 per cent per year.
It has also suggested a freeze on fresh government recruitments, and increasing the annual disinvestment target to Rs 16,000 crore per year during the Plan while bringing down the fiscal deficit to less than three per cent for the Centre by 2007.