A Parliamentary panel will discuss the 12th Five-Year Plan (2012-17) document, which aims to raise annual average economic growth to 8.2 per cent from 7.9 per cent in the previous Plan.

This was decided at the first meeting of the reconstituted Parliamentary Standing Committee on Finance here today. The panel is headed by senior BJP leader and former Finance Minister Yashwant Sinha.

“This was the first meeting of the panel after its constitution. We had general discussions. We would discuss the 12th Plan document in the next meeting,” said a Committee member.

The 12th Plan document has been approved by the Union Cabinet and will now be placed before the National Development Council (NDC) for final approval.

The committee, according to the members, would endeavour to meet every Friday to clear the backlog of work, including the bills which were referred to it for scrutiny by the Speaker.

Congress General-Secretary Rahul Gandhi, who was made a member of the reconstituted panel recently, attended the meeting. Earlier, he was a member of the Parliamentary panel on HRD.

The panel has already submitted its report on the Prevention of Money Laundering (Amendment) Bill, 2011, The Companies Bill, 2011, The Benami Transactions (Prohibition) Bill, 2011 and the Current Economic Situation and Policy Options (in 2012).

It has also submitted its views on the Regulation of Factor (Assignment of Receivables) Bill, 2011, The Pension Fund Regulatory and Development Authority Bill, 2011, The Insurance Laws (Amendment) Bill, 2008, The National Identification Authority of India Bill, 2010, and The Banking Laws (Amendment) Bill, 2011.

The reconstituted panel will also deliberate on Goods and Service Tax and submit its report on it.

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