Page 11 - Niti Aayog

Electric two-wheeler sales likely to miss NITI Aayog target for FY24

Dealers feel a major reason for the dip is the reduction of FAME subsidy by the government

Devolution for development

Developed India needs local government-led human development to truly become an Inclusive India

Invent advanced tech to gain global leadership: NITI to medical industry

Domestic medical devices industry should come up with cutting-edge technologies to gain leadership across global markets, NITI Aayog member (Health) Dr VK Paul said on Thursday. Speaking at an event here, he also asked the industry to initiate ways to tap AI for their respective medical devices. Paul noted that the government has already taken a lot of steps in policy terms and now it is the turn of the industry to move ahead. "We believe that we need frugal innovation, but we also strongly believe that India must do cutting-edge innovations...for our leadership in industry, for our leadership in the world," Paul said. The industry needs to address the cutting edge, breakthroughs, he said, adding that nothing much has been achieved after technologies like MRI (Magnetic Resonance Imaging). "That means the space is open for us to catch up and leapfrog in the direction of new ideas, new solutions, and disruptive technologies that should emanate from India," Paul added. He noted that

Economists divided over poverty decline claims by SBI, Niti Aayog

The SBI report estimated the new poverty line at Rs 1,622 for rural areas and Rs 1,929 for urban areas

Latest NSSO consumer survey indicates poverty down to 5%: NITI Aayog CEO

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

Under-employment a problem for India: Panagariya as he pitches for reforms

Pitching for labour reforms, the chairman of the 16th Finance Commission and former NITI Aayog Chairman Arvind Panagariya on Saturday said that "unemployment," is not a problem for India but "under-employment" is. Speaking at a session 'The Economic Whisper: how to fuel growth with jobs' at the concluding day of the two-day ABP Network's 'Ideas of India Summit 3.0' here, he also sounded optimistic that the jobs problem in the country will be solved over the next 10 years. "Unemployment is really not India's problem in my view. Our problem is underemployment, so productivity is low. So the job that can be done by one person often gets done by two people or maybe three people. And that is where I think, the real challenge of jobs is creating well-paid high-productivity jobs," he said. Stating that in the economy's jargon, India is a labour-abundant and capital-scarce country, he said, "What we have done is to put much of the capital in very selective sectors which are in any case very

Pulses, oilseeds demand to outstrip production by 2047-48: NITI Aayog

"Augmentation of oilseeds yield, and production from secondary sources can reduce the gap in the short-run, and achieve self-sufficiency in the long-run," the report said

16th FC chairman Panagariya warns against pitfalls of import substitution

On why countries with low per-capita incomes, such as India, must focus on exports, Panagariya explained how the global export market was worth $32 trillion in 2022, almost ten times India's GDP

Caring for the elderly

Longevity dividend can be both a burden and an opportunity

Tax reforms, reskilling of elderly needed in senior care: NITI Aayog

Protection of elderly from financial frauds needs to be ensured, says NITI

NITI Aayog pitches for tax reforms, mandatory saving plan for elderly

Government think tank NITI Aayog has pitched for tax reforms, mandatory saving plan, and housing plan for elderly in India, as the population of senior citizens is projected to reach 19.5 per cent of the country's population by 2050. In a report titled 'Senior Care Reforms in India - Reimagining the Senior Care Paradigm', NITI Aayog said a national portal for senior care must be developed for senior citizens to provide easy access of services to them. "Since the social security framework in India is limited, most seniors depend on the income generated from their savings. Variable interest rates result in the erosion of their income, sometimes even below sustenance levels. "Therefore, a regulatory mechanism is required to set a viable base rate for the interest accrued on senior citizen deposits," the report said. The report emphasised that giving a further concession to older women will contribute to their financial well-being. The elderly in India currently comprises a little ove

NITI Aayog plans economic transformation of 4 cities, including Mumbai

The NITI Aayog has prepared a plan for economic transformation of Mumbai, Surat, Varanasi and Vizag and help India become a developed economy by 2047, its CEO BVR Subrahmanyam said on Saturday. He also said the Aayog plans to prepare economic planning of 20-25 more cities, as they are the centre of economic activities. A vision document is being prepared by NITI Aayog for India to become a developed economy of USD 30 trillion by 2047, and it will be released by Prime Minister Narendra Modi. "We used to only prepare urban planning of cities, not economic planning..NITI Aayog has prepared economic planning of Mumbai, Surat, Varanasi and Vizag, for economic transformation of these cities," he said at an event here. Last year, Maharashtra Chief Minister Eknath Shinde had held a meeting with NITI Aayog officials during which steps needed to take the GDP of Mumbai Metropolitan Region (MMR) to USD 300 billion by 2030 were discussed. Subrahmanyam said the Centre had sought views of the ..

Remaking PLI: Can a revamp of the scheme plug the gaps and speed things up

PLI is Prime Minister Narendra Modi's dream scheme to transform India into a manufacturing hub for the world

NITI Aayog report bats for incentives to promote LNG as transportation fuel

Government think tank NITI Aayog has pitched for providing fiscal and non-fiscal incentives to promote liquified natural gas (LNG) as a transportation fuel in medium and heavy commercial vehicles. In a report titled LNG as a Transportation Fuel in Medium and Heavy Commercial Vehicle', the Aayog said the government's think-tank suggested setting up a demand aggregator company for buying LNG trucks, similar to Energy Efficiency Services (EESL) in the electric vehicle sector. According to the Aayog, India's rapidly expanding trucking market, which is expected to more than quadruple, from 4 million trucks in 2022 to roughly 17 million trucks by 2050, offers immense scope for lowering emissions and encouraging investments for growth. The Aayog suggested that priority lane access, for LNG vehicles can be provided as non-fiscal incentives to promote LNG. "Major cities and roadways need to be recognised, and such priority lane access can be tested first in major cities and roads," it ...

Claim payout delays put PLI scheme's nodal agencies under scrutiny

NITI Aayog to monitor project management agencies, ministries to ensure speedier claim settlement

Not by cosmetic changes alone

Disinvestment can get a shot in the arm by ministerial revamp, not by just a nomenclature change

Bill for NFIR almost ready; may be introduced in next session: DEA secy

Economic Affairs Secretary Ajay Seth has said that a draft Bill for setting up a National Financial Information Registry (NFIR) is almost ready and it may be introduced in the July session. The objective is to build a public infrastructure for credit-related information and the right information can be made available by the NFIR to lending agencies. A National Financial Information Registry will serve as the central repository of financial and ancillary information. This will facilitate efficient flow of credit, promote financial inclusion, and foster financial stability. "Stakeholder consultations on the draft bill are over now and it is almost ready. We will shortly take it to the Cabinet for its approval but introduction in this session will not be possible," Seth told PTI in an interview. However, he said, the Bill may be introduced in the July session. The July session would be the first session of the 18th Lok Sabha after the general elections in the next couple of months. .

Interim Budget 2024: India's economic future bright, in capable hands

While the IMF estimates the Indian economy to grow at 6.7 per cent in 2023-24, there is no other comparable economy that is growing as rapidly as India

Govt appoints 3 full-time, 1 part-time member of 16th Finance Commission

The Finance Commission is a constitutionally mandated body established once every 5 yrs to devise a formula for distributing net tax proceeds between the Centre and the states

India's challenge: Building sovereign GenAI

It needs more than just ambition; attracting Indian researchers back to the country is just one of the hurdles