Modi will bring vision document for India’s future in December – Gudstory

Extensive work is underway to analyze the growth path and development bottlenecks of key sectors and design a collaborative approach with the participation of states in the spirit of “Team India”, said three people familiar with the discussions, requesting anonymity. Said.

Federal policy think tank NITI Aayog is acting as the nodal agency to prepare the blueprint with the help of a high-level committee of secretaries, said one of the people quoted above.

The vision document will focus on achieving developed country status by 2047, with an emphasis on inclusive and environment-friendly growth, emerging industries and sustainable infrastructure creation, while focusing on boosting the rural economy and farmers’ incomes, the person said. Attention will be given.

The vision document coming at the end of Modi’s second term is also expected to achieve better governance and service delivery to citizens. Economic growth and human development will remain the key pillars of the blueprint. Special attention will also be given to empowerment of women and increasing participation of women in work like micro, small and medium enterprises.

Developed country status is defined as a per capita income of $13,000. Based on projected gross domestic product (GDP), India’s per capita income will be around $2,500 in FY 2024. 301 trillion and exchange rate 83 per dollar.

Emails sent to the Prime Minister’s Office and NITI Aayog on Saturday seeking comment on this story remained unanswered.

The proposed blueprint comes as India’s efforts to drive economic growth by gaining a greater share in global output and trade face several challenges, including tough global financial conditions and geopolitical uncertainties. This is reducing global demand and causing volatility in global energy and fertilizer prices and exchange rates.

On the domestic front, while increased government spending is helping boost economic activity, there is a need to boost rural consumption. Policymakers are expecting a revival in private investment, aided by higher output and capital goods imports and clean balance sheets of corporations and banks.

Experts said it would be important to address structural issues to ensure balanced growth. “Improving labor and capital productivity is critical for sustained, strong growth of the economy,” said NR Bhanumurthy, vice-chancellor of the Dr. BR Ambedkar School of Economics University in Bengaluru. Increased factor productivity leads to higher economic output with the same resources.

Building 21st century infrastructure will be a key element of the Vision 2047 document. The government has identified 16 critical sectors of infrastructure, including roads, ports and railways, for sustained public and private investment.

One goal is to build a network of 50,000 kilometers of highways, including about 35,000 kilometers of access-controlled highways, with investments of more than 100,000 over the next two decades. 20 trillion, said the third person quoted above. Building world-class railways and making the country a global maritime power are part of the blueprint.

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Updated: October 15, 2023, 11:36 PM IST