Page 7 - Niti Aayog

India in 2047

Policy adjustments can enable higher growth

Vision plan to become $30 trn economy by 2047 in works: NITI Aayog CEO

NITI Aayog CEO BVR Subrahmanyam on Sunday said a vision document is being prepared for India to become a developed economy of about USD 30 trillion by 2047. The vision document will outline the institutional and structural changes/ reforms that will be needed for the country to become a developed nation by 2047. The draft Vision India @2047 will be ready by December 2023 and it will be presented before the country in the next three months, he said. "A vision plan is being prepared for India to become a developed economy of about USD 30 trillion (USD 29.2 trillion) by 2047... the whole purpose of the vision document is to avoid the middle-income trap," he told reporters here. According to the Asian Development Bank (ADB), the middle-income trap captures a situation where a middle-income country can no longer compete internationally in standardized, labor-intensive goods because wages are relatively too high, but it also cannot compete in higher value-added activities on a broad enou

Skilled manpower makes Tamil Nadu top destination for investors: TRB Rajaa

Tamil Nadu was ranked as the top state in NITI Aayog's Export Preparedness Index, 2022

NITI Aayog to develop action plan to bridge trade deficit with China

Government think tank NITI Aayog has initiated a study to develop a comprehensive action plan to bridge India's trade deficit with China over time and align trading strategies with emerging geopolitical situation and potential risks to safeguard supply chains. The Aayog has invited bids from consultants to lead the two studies in areas of reducing trade gap with China and boosting local manufacturing. The move also comes against the backdrop of simmering tensions between India and China since the Galwan clash in June 2020. "The centrality of China to lndia's supply chain in certain industries raises dependency and vulnerability of the lndian supply chains and production networks particularly during crisis situations such as the COVID-I9 and geopolitical conflicts. "The study would aim to develop a comprehensive action plan to bridge the trade deficit over time and align trading strategies with emerging geopolitical situation and potential risks to safeguard supply chains," the Aayo

NITI Aayog working on plan to reduce reliance on China for supply chains

A senior government official was quoted as saying that the Aayog will bolster its policy recommendations on tariff and non-tariff barriers

Principal Secy PK Mishra reviews progress made on G20 leader's declaration

The Principal Secretary also touched upon the forthcoming G20 Virtual Summit, a novel concept proposed by Prime Minister Narendra Modi

PLI good for telecom, need to adjust for others: NITI Member Virmani

Virmani said that industry needs to reach the minimum efficient scale (MES), otherwise they cannot compete by themselves and will need subsidies to compete

Never imagined I will become Finance Minister: Nirmala Sitharaman

Union Minister Nirmala Sitharaman on Tuesday said she never imagined that she would become the country's Finance Minister and one should never forget there is 'some infinite grace' above all. The Finance and Corporate Affairs Minister, taking part in a series of events earlier in the day, gave away loans amounting to Rs 3,749 crore to over one lakh beneficiaries. "Did I imagine becoming Finance Minister of the country? No chance." Sitharaman said she had no political background and still one day she managed to do so (become a Minister). "I am being spiritual here. Instead of only praying to God, we should put in sincere efforts...But never forget that you cannot be there (reach your destination) without some infinite grace," she said. Sitharaman made these comments while addressing students at the PSG R Krishnammal College for Women here. "I remind myself during difficult times that there is some cosmic power to give that strength (to you). I always say that you (God) have brough

Fresh consultations with stakeholders on battery swapping policy soon

The objective of the meeting is to streamline the standards for battery-swapping technology, ensuring compatibility across various EV models and charging stations

India to clock GDP growth of 6.5% in FY24: NITI Aayog member Arvind Virmani

The Indian economy will grow at around 6.5 per cent in the current fiscal, notwithstanding high crude oil prices and increased uncertainty due climate changes, NITI Aayog member Arvind Virmani said on Thursday. Virmani also asserted that the gross household savings ratio in India has consistently gone up. In an interview with PTI, he said: "My growth projection (of India's GDP growth) is 6.5 per cent plus minus 0.5 per cent... because my experience is that the fluctuations in global GDP more or less has balanced out for us, assuming normal changes." On some US-based economists' claim that India is overstating economic growth, Virmani said he has noticed that certain former officials don't have any idea how GDP is constructed as they have come from academic background. Last week, the Finance Ministry also dismissed the criticism of inflated GDP, saying it has followed the consistent practice of using the income side estimates to compute economic growth, and stressed many internatio

NITI Aayog spearheads efforts to standardise battery swapping policy

"The objective is to unite all stakeholders under a common policy framework. These consultations are designed to achieve that goal," government officials privy to the development said

Obesity on rise among rural families in Telangana: ICRISAT research

Many rural families in Telangana now eat more carbohydrates as they are more affordable than sourcing limited protein and micronutrient rich options, a recent study by the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) has said. The international body, quoting the Multidimensional Poverty Index (MPI) baseline report 2021 by NITI Aayog, said the study was taken up in Telangana as the state has one in seven individuals multidimensionally poor which is less than the national average of one in four. "A new study from the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) is reshaping our understanding of India's rural health crisis by shedding light on the unexpected causes driving the rise of rural obesity and malnutrition," ICRISAT said. The study also highlights the lack of access to protein and the importance of traditional food systems, and nutrition-sensitive food supply chains. People are also eating more sugary packaged foods

NITI Aayog, UNDP join hands to fast-track sustainable development goals

NITI Aayog is the nodal body for the monitoring of SDGs in India and reviews the process through a nation-wide SDG index

NITI Aayog, UNDP partner to further India's sustainable development goals

Cooperation will include SDG localisation, data-driven monitoring, and aspirational districts & blocks, among others

Not so BIMARU now: Amit Shah says MP has shed the tag. What does it mean?

Amit Shah said that the BJP government in Madhya Pradesh brought the state out of the BIMARU tag and put it on the path of development by implementing various welfare schemes

Amid rising suicides, NITI Aayog plans healthcare programme for children

The programme, for both government and private schools, will focus on policy interventions for mental health promotion, prevention and interventions to school children

Chhattisgarh CM Bhupesh Baghel transfers Rs 2,000 cr to beneficiaries

Chief Minister Bhupesh Baghel on Sunday transferred Rs 2,055.6 crore into the accounts of beneficiaries as part of the Rajiv Gandhi Kisan Nyay Yojana (RGKNY) and other schemes

India's anti-dumping duty impositions drop amid post Covid-19 shift

The Indian government's stance on anti-dumping duties has seen a decrease in the acceptance of recommendations from the DGTR, particularly concerning goods from China

Niti Aayog looking at tax related issues of engineering, textile industry

Government think-tank Niti Aayog is looking at tax-related issues, including inverted duty structure in three sectors of engineering, leather, and textiles, an official said on Monday. The issues are likely to be taken up with higher authorities for their resolution to promote the growth of these sectors, the official said. Industry representatives of leather and engineering sectors said that they have shared a list of GST (Goods and Services Tax) and inverted duty structure-related issues with the Niti Aayog. "We expect the government to resolve those issues as it would help in promoting manufacturing and exports from the country," an industry official said. The leather sector has recommended the reinstatement of basic customs duty on the import of wet blue, crust and finished leathers. The exercise assumes significance as these three sectors are labour-intensive and contribute significantly to the country's merchandise exports. The leather and footwear industry employs 4.42 mi

Centre working on digital registry for organ donation to streamline process

An official was quoted as saying by Mint that the donation registry is aimed at revamping NOTTO under the National Organ Transplant Progamme (NOTP) 2.0