The Measures outlined by the 11th Five Year Plan of India to Ensure Inclusive Growth

Eleventh plan envisions an economy and provides for an opportunity to restructure existing policies with inclusive growth. It aimed at putting the economy on a sustainable grow the trajectory with as growth rate of the per cent. The key element of the strategy for inclusive growth is to provide access to basic facilities’ such as health, education, clean drinking water.

Following points bring out the shift in the strategy of the Plans during this phase:

i. Greater flexibility in fiscal and monetary policies;

ii. Shift in the policy from the focus on national targets to taking cognisance of the performance of different states in the country and efforts towards bridging interstate inequality;

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iii. Ensuring equity and social justice;

iv. Bringing full capacity utilisation in the manufacturing sector;

v. Reduction in the gestation lags of industrial and infrastructural investments;

vi. Rationalisation of labour laws and regulations;

vii. Introducing financial sector reforms so that the viability and stability of financial institutions improves financial sector in India should be able to and willing to finance a range of activities that are of crucial importance both for growth and development;

viii. Re-examination of the subsidies provided to agricultural sector;

ix. Revival of public investment in irrigation and water management;

x. Removal of the reservation policy for small scale industries in a phased manner, without adversely affecting employment opportunities;

xi. Development of telecommunications, energy, and housing sector on a priority basis;

xii. Making an decisive impact on the quality of life of the majority of people especially poor and marginalised; and

xiii. Settling socio-economic targets by making social interventions.

Eleventh Plan (2007-12) recognised that overall financial system need to be strengthened and develop­ment through improved regulatory mechanisms. Thus the plan envisaged the growing role of private sector banks and foreign financial institutions, Priorities shifted to agriculture and industry compared to services sector.

However, in both agriculture and industry many new areas were focused keeping in mind the objective of inclusive growth and social justice to the poor and marginalised sections of society. In doing so, the significance of public-private sector partnership was impressed upon.