Planning Commission setting target of reducing poverty by 10% by end of 12th plan
- By the end of the 12th plan, the Planning Commission is setting a target of bringing down poverty by 10%.
- The Commission had set a like target during the 11th Five Year Plan (2007-12).
- As per the data, the rate of poverty reduction b/w 2004-05 to 2009-10 was 1.5% every year whereas it was 0.7% b/w 1993-94 to 2004-05.
- Later on, the Commission had accepted there was discrepancy in NSSO data and national accounts which led to fixing such a poverty criteria.
- In May 2012 the Planning Commission constituted an expert group headed by renowned economist C. Rangarajan to reexamine the Tendulkar Committee methodology for figuring poverty. The expert group is anticipated to table its report in 7-9 months.
Month: Current Affairs - July, 2012