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Niti Aayog Report
Bold reforms, sustainable energy strategies, and a leadership role in global trade would be key to achieve Viksit Bharat by 2047, government think tank NITI Aayog has said. Trade liberalisation, tariff reductions, and technological collaborations were explored as potential avenues to enhance India's global trade standing, it said. The observations were made by panellists at a conclave titled 'Towards Viksit Bharat @ 2047: Strengthening Economy, National Security, Global Partnerships, and Law', which was organised by NITI Aayog in New Delhi on Thursday. The panellists stressed the need for increased private sector investment in research and development, fiscal consolidation, and integration into global supply chains. "The consensus was that bold reforms, sustainable energy strategies, and a leadership role in global trade would be key to achieving Viksit Bharat by 2047," it said. According to the Aayog, sovereign credit ratings, energy security, and access to critical raw materials
Niti Aayog is working on proposals to deepen the corporate bond markets to achieve an alternative to bank finance for borrowers, the government think tank said in its Annual Report 2023-24. The corporate bond market, seen as an alternative to bank finance for borrowers, helps companies to raise long-term funds at competitive costs. "The vertical is in the process of developing a holistic research buttressed with key policy recommendations to deepen the corporate bond markets to achieve an alternative to bank finance for borrowers," it said. The report said corporate bond markets are an efficient cost-minimisation process for long-term funding and contribute significantly to financial stability. "It is a mechanism for supporting the bank for long-term lending against relatively shorter-tenor liabilities and helping the insurance companies and pension fund holders to diversify their portfolios while spreading or distributing the risks and managing the liquidity gap," it added. The .
India needs to strive to be a USD 30 trillion economy with a per capita income of USD 18,000 per annum by 2047, the approach paper for vision for Vikshit Bharat in 2047 has said. NITI Aayog in a paper titled 'Vision for Viksit Bharat @ 2047:An Approach Paper' said India needs to avoid the Middle-Income trap and carefully work towards breaking out of it. "As for the economy, to become a developed nation, we need to strive to be a USD 30 trillion economy by 2047 with a per capita income of USD 18,000 per annum. "The GDP would have to grow nine times from today's USD 3.36 trillion and the per capita income would need to rise 8 times from today's USD 2,392 per annum," it said. The paper also noted that progressing from a middle-income to a high-income level requires sustained growth in the range of 7-10 per cent for 20-30 years and very few countries have managed to do this. Defining the concept of Vikshit Bharat, the paper said it is a Bharat which will have all the attributes of a ..
The latest consumer expenditure survey indicates that poverty has come down to five per cent in the country and people are becoming prosperous both in rural and urban areas, NITI Aayog CEO B V R Subrahmanyam said on Sunday. The National Sample Survey Office (NSSO), under the Ministry of Statistics and Programme Implementation, released data on household consumption expenditure for the year 2022-23 on Saturday which shows per capita monthly household expenditure more than doubled in 2022-23 as compared to 2011-12. "This long-awaited consumer expenditure survey has brought out many things. With data on household consumption, we can assess what is the status of poverty in the country and how successful the poverty alleviation measures have been, Subrahmanyam told reporters. "The survey findings indicate that poverty in India is below five per cent now. I am convinced with the data, he said. He said that for the purpose of the survey, people were kept in 20 different categories and the
NITI Aayog member Ramesh Chand on Wednesday stressed on the need to increase maize yields to meet the demand for ethanol production. Addressing a workshop on maize here, Chand said that achieving the higher maize productivity is crucial for increasing the maize production in the country, as per an official statement. Speaking on the occasion, Agriculure Secretary Manoj Ahuja emphasised the pivotal role of the private sector in formulating progressive strategies for the maize sector, positioning maize as the crop of opportunity. He also stressed on adoption of high-yielding seed varieties, cluster demonstration, procurement policy, and the necessity for the industry to collaborate with farmers for propelling maize production and ensuring better remuneration for farmers. Special Chief Secretary in the Punjab government K A P Sinha mentioned about challenges related to diversifying from paddy/wheat to maize in the state. He stressed the need for infrastructure, machinery, incentives
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
The government in this financial year has allocated Rs 100 crore for the Aspirational Blocks Programme (ABP), which aims to improve governance at the block level, in order to enhance the quality of life of citizens, a top government official said on Saturday. The Aspirational Blocks Programme is being implemented in 500 aspirational blocks across 329 districts in the country. Prime Minister Narendra Modi launched the nationwide programme on January 7. "The government has allocated Rs 100 crore for the Aspirational Blocks Programme in 2023-24... We expect that all 500 backward blocks will reach the state average in terms of development," the official said on the condition of anonymity. Out of 500 aspirations blocks, 160 blocks are part of the 112 aspirational districts. Uttar Pradesh has the maximum number of blocks (68) under this programme, followed by Bihar (61) and Madhya Pradesh. NITI Aayog would undertake ranking of Blocks every quarter based on their performance, the officia
Admitting to NITI Aayog ranking of Meghalaya as one of the poorest states in the country, Chief Minister Conrad K Sangma assured that the state's situation will improve in the next five years. Meghalaya has been ranked among the five poorest states in India in the 'National Multidimensional Poverty Index (MPI): A Progress Review 2023' report released by Niti Aayog on July 17. The chief minister said he accepted the report and admitted that even if action has been taken, the results may take some time to be seen. We have to accept we have challenges and are lagging behind. We have to start by accepting where we are, what are the challenges we face and work towards improving them, Conrad told PTI. He said, All steps we have taken in the last five years have been towards improving the situation. I am sure that in the next five years, we will see a huge improvement in these numbers. The CM said though the state has a lot of challenges, there are areas where the government has achieved
As many as 13.5 crore people in five years ended March 2021 moved out of multidimensional poverty, measured by improvement in health, education and standard of living, with Uttar Pradesh, Bihar and Madhya Pradesh registering the fastest reduction, said a Niti Aayog report on Monday. India has registered a significant decline of 9.89 percentage points in the number of India's multidimensionally poor from 24.85 per cent in 2015-16 to 14.96 per cent in 2019-2021, according to the second edition of the National Multidimensional Poverty Index (MPI). While rural areas witnessed the fastest decline in poverty from 32.59 per cent to 19.28 per cent, urban areas saw a reduction in poverty from 8.65 per cent to 5.27 per cent. "A record 13.5 crore people moved out of multidimensional poverty between 2015-16 and 2019-21," said the report 'National Multidimensional Poverty Index: A Progress Review 2023' released by Suman Bery, Vice-Chairman, Niti Aayog. The National MPI measures simultaneous ...