Page 6 - Niti Aayog

Viksit Bharat not just dream, it's a possibility: NITI CEO Subrahmanyam

Asserting that 'Viksit Bharat' is not just a dream but a possibility, NITI Aayog CEO BVR Subrahmanyam on Wednesday said by most conservative estimates, India will be a USD 30 trillion economy by 2047. Speaking at the 10th Vibrant Gujarat Global Summit here, Subrahmanyam further said India is in a position to take a quantum leap. "Viksit Bharat is not just a dream, it's a possibility," he said. According to him, a vision document is being prepared for India to become a developed economy of USD 30 trillion by 2047, and it will be released by the Prime Minister by the end of January. "By most conservative estimates, India is going to be a USD 30 trillion economy by 2047," Subrahmanyam said. He noted that if all states become 'viksit' (developed) then the nation can also become viksit. The NITI Aayog CEO noted that massive expansion in physical and digital infrastructure has taken place in India. "India is outperforming other emerging economies," he said, adding that this is a turni

Fostering R&D and innovation in pharma and medtech sector

The government pushes the frontier through an enabling policy and a novel scheme

Govt appoints Arvind Panagariya as chairman of 16th Finance Commission

D K Srivastava, a member of the 12th Finance Commission, said Panagariya is well suited for the job as he has a very good understanding of the Indian economy and looked after the Niti Aayog

Former NITI Aayog VC Arvind Panagariya to lead 16th Finance Commission

Joint Secretary in the finance ministry Ritvik Ranjanam Pandey will be the secretary to the commission, the government said in a notification.

NITI plans to boost India's electronics, auto global value chain share

In talks with industry, Centre, states for 4-pronged strategy

Mock drills in hospitals every three months even as the pandemic is over

Health Minister Mansukh Mandaviya asks hospitals to be prepared for Covid, as India reports 341 fresh cases

Sustainable debt management on agenda for NITI's global green push

Report on G20 deliberations says credit rating agencies should be regulated for fair assessments of emerging countries

India's GDP will reach $5 trillion in 2026: Ex-NITI Aayog VC Panagariya

India will become the world's third largest economy by 2026 as its GDP in current dollar terms will reach USD 5 trillion in that year and further rise to USD 5.5 trillion in 2027, former Niti Aayog Vice Chairman Arvind Panagariya said on Friday. Delivering the 18th C D Deshmukh Memorial Lecture titled 'India at 125: Reclaiming the Lost Glory and Returning the Global Economy to the Old Normal', he said it is unlikely that GDP in current dollar terms of either Germany or Japan will cross USD 5 trillion-mark in the coming three years. Japan will have to sustain a growth rate of 3.5 per cent in current dollar terms to reach USD 5.03 trillion in 2027 from its 2022 level of USD 4.2 trillion, he said. At the 4 per cent annual growth rate, German GDP will rise from USD 4.4 trillion in 2023 to USD 4.9 trillion in 2026 and USD 5.1 trillion in 2027, he said. "Given these estimates, how soon can the Indian GDP cross the GDPs of these two countries?.. that is the question," Panagariya said. I

Agriculture to play important role in development trajectory: NITI VC

Agriculture will play a central role in India's development trajectory as strong rural demand supports manufacturing and economic revival, Niti Aayog Vice Chairman Suman Bery said on Wednesday. According to an official statement, the Aayog and the International Food Policy Research Institute (IFPRI) signed a Statement of Intent (SoI), aiming to fortify policy and programme frameworks contributing to India's development objectives. "In India's development trajectory, agriculture will play a central role", the statement said, quoting Bery. Bery said increasing productivity of agriculture, coupled with a shift towards natural and soil-friendly practices, is crucial. "Strong rural demand supports manufacturing and economic revival and is critical for India's transformation over the next 25 years," he said. Speaking at the event, Niti Aayog member Ramesh Chand said the SoI will lead to collaborative work between the government think tank and IFPRI that can generate new insights into th

The tradeoffs of waste taxation

Policymakers have been grappling to understand the implicit micro-foundations along with behavioral idiosyncrasies of waste regulation and designing the appropriate fiscal instruments for the same

India is labour-rich country, can get to 8% growth: NITI Aayog VC Bery

India has potential to grow at 8 per cent as the country is labour-rich with enough institutional maturity of a functioning democracy, NITI Aayog vice chairman Suman Bery said on Thursday. Bery also cautioned the reality is that the north of India has not been traditionally doing as well as the south of India and this can create tensions in a federal polity. "So 8 per cent growth or something approximating that means continuous change that needs to be politically managed," he said while addressing the Global Economic Policy Forum 2023, organised by the Confederation of Indian Industry (CII) and the finance ministry. According to Bery, the modernisation journey of India is unusual and unique. "And if I wanted to bet on India for the next 25 years, I would point to first, the fact that we are not labour constrained in a world which is increasingly labour constrained, but much more importantly, that we have the institutional maturity of a functioning democracy with established rules o

India targeting enrolment of half mn foreign students by 2047: NITI CEO

India is targeting enrolling half a million foreign students by 2047, Niti Aayog CEO BVR Subrahmanyam said on Wednesday. Subrahmanyam made the comments while addressing the 18th FICCI Higher Education Summit. He also said technology is going to "blow up" the higher education sector and the universities have to embrace Artificial Intelligence in a big way to stay relevant and competitive. "NITI Aayog is preparing a vision document for 2047 and education has a separate role in it. One of the important points in this include that, by 2047, we aim to target half a million foreign students in India. We should become the global provider of education by improving our quality, brand value and improve our rankings which are globally recognised," he said. The Niti Aayog CEO asserted that there is a need to create more education cities in India. He urged the private sector to further expand the higher education ecosystem and ensure more international students are attracted to India, along wit

'Vision India @2047' document in making for 'Viksit Bharat': NITI Aayog CEO

NITI Aayog CEO BVR Subrahmanyam on Wednesday said a vision document is being prepared for India to become a developed economy of about USD 30 trillion by 2047. The draft 'Vision India @2047' document will outline the institutional and structural changes/ reforms that will be needed for the country to become a developed nation by 2047. "A vision plan is being prepared for India to become a developed economy...the prime minister will release the document in January," Subrahmanyam said while addressing an event organised by industry body FICCI. In 2023, NITI Aayog was entrusted with the task of consolidating the 10 sectoral thematic visions into a combined vision for Viksit Bharat @2047. Subrahmanyam said the government wants college enrolment rate in India to increase from 27 per cent to 50-60 per cent. "So, the college going population would go up from 4 crore to 8- 9 crore. So we need thousand more universities, in addition to thousand universities we have today," he ...

Why Indian Railways needs to evolve new business plan and revisit pricing

The Railways' profitable freight business is losing ground to the competition, while meeting pent-up passenger demand will mean more losses, notes T N Ninan

Planners and architects have key role to play in India's urbanisation: Kant

Former NITI Aayog CEO Amitabh Kant said on Friday said planning and architecture are important fields in India and will contribute significantly to the country's urbanisation. Architects give life to the cities in the country, Kant said while addressing the 41st convocation ceremony of the School of Planning and Architecture here. "I have always believed that planning and architecture is the most important occupation in India and the most creative journey for any student...If the Indian cities have to be given a new life, only planners and architects can do that," he said. "Early in my career as the secretary of tourism in Kerala.... I felt I have probably gotten into the wrong profession, I should have been a planner or architect," Kant said. He said India is undergoing massive urbanisation and the process is slated to transform significantly in the next four to five decades. Kant said that planners and architects have a key role to play in building the new India of tomorrow. In

Strengthening schools

States can benefit from NITI Aayog's project

NITI Aayog seeks large-scale school mergers, teacher training overhaul

NITI Aayog has also suggested that states undertake decentralisation of powers to principals, district and block officers for self-improving governance

India needs to integrate into global value chains: NITI Aayog CEO

NITI Aayog CEO B V R Subrahmanyam on Tuesday emphasised on the need for India to integrate into global value chains and adapt swiftly to emerging trading systems, according to an official statement. While addressing a thematic workshop on 'Inclusive Trade for Growth & Prosperity' organised by NITI Aayog, Subrahmanyam also highlighted the need for a non-discriminatory and inclusive trading system which facilitates trade as an engine of growth and prosperity. Also speaking at the event, NITI Aayog member Arvind Virmani highlighted the need for strengthening key areas such as labour-intensive supply chains, institutional factors for policy framing and simplifying taxation system, and integrating payment, refund and export credit systems especially for MSMEs. Virmani also pointed out the need to address various anti-dumping issues and the need to foster free trade agreements with potential partners. NITI Aayog member Ramesh Chand stressed on the need of reducing non-tariff barriers; ..

India unlikely to have hyperloop trains in future: NITI Aayog's Saraswat

India is unlikely to go in for hyperloop technology for ultra high-speed trains in the near future as the technology is at a 'very low level' of maturity and may not be economically viable at the current juncture, NITI Aayog Member V K Saraswat said on Sunday. Saraswat, who is heading a committee to explore the technological and commercial viability of the Virgin Hyperloop technology, further said some foreign companies have shown interest to bring the technology in India. "Hyperloop technology as far as we are concerned, we found that the offer which came from foreign countries are not very viable options. They are at a very low level of maturity of technology," he told PTI in an interview. Hyperloop is a high-speed train, running in vacuum in a tube. The technology is proposed Elon Musk, who is behind electric car company Tesla and commercial space transport company SpaceX. "So we have not given much importance to that and as on today, it is only a study programme. I don't expect

India needs rural model that focuses on income from non-farm sources: Chand

Chand said NITI Aayog is working on the new development model for India with the same focus on boosting incomes from the rural non-farm sector