The Five Year Plan in India is finally approved by the National Development Council (NDC). The NDC is a high-level body that comprises the Prime Minister, Union Cabinet Ministers, Chief Ministers of all states, and other members. It is responsible for formulating and approving the country`s development plans and policies.

The NDC plays a crucial role in the planning and implementation of Five Year Plans in India. It provides a platform for discussion, deliberation, and consensus-building among the central and state governments on various developmental issues and priorities. The NDC considers inputs from different stakeholders and formulates the final plan document, which outlines the strategies, goals, and targets for economic and social development during the specified five-year period.

While the Union Cabinet and the Planning Commission (now replaced by NITI Aayog) are involved in the formulation and implementation of the Five Year Plans, the final approval of the plan rests with the National Development Council. The President of India does not directly approve the Five Year Plan but plays a ceremonial role in its announcement and implementation.