The Planning Commission (Hindi: योजना आयोग, Yojana Āyog) was an institution in the Government of India, which formulated India's Five-Year Plans, among other functions. welfth Plan (2012–2017) The Twelfth Five-Year Plan of the Government of India has been decided to achieve a growth rate of 8.2% but the National Development Council (NDC) on 27 December 2012 approved a growth rate of 8% for the Twelfth Plan. Any plan for national economic or industrial development specifying goals to be reached within a period of five years, especially as undertaken by the Soviet Union and China.