Page 7 - Niti Aayog

Niti Aayog calls for guidelines, e-KYC to check PMMY applicants background

The government think tank NITI Aayog has pitched for a set of guidelines for assessing the creditworthiness and background verification for those availing loans under the Pradhan Mantri Mudra Yojana (PMMY). The Aayog in a report titled 'Impact Assessment of PMMY' suggested encouraging E-KYC authentication for loan underwriting. This will enhance the effectiveness of assessment checks. "A set of guidelines for assessing the creditworthiness and background verification must be enlisted to provide a security net to the banks, considering the loans are collateral free and a proper risk check and assessment has a critical role to play in the sustainability of results and success of the scheme," it said in the report posted on its website. The majority of borrowers under PMMY are small entrepreneurs who have very limited documents and this makes it difficult for the banks to run verification checks as it requires more staffing and employees. The Aayog also suggested that a proper reward

Niti Aayog seeks proposals to evaluate centrally sponsored schemes

Government think tank Niti Aayog has invited proposals for evaluation of centrally sponsored schemes across nine crucial sectors, including health, agriculture and education. According to the Aayog, each sector will require a separate application through the GeM portal. The 9 CSS packages include agriculture and allied sector, women and child development, education and rural development, among others. Centrally sponsored schemes (CSS) are implemented by the state governments but sponsored by the central government with a defined shareholding. These schemes are aimed at supplementing efforts undertaken by the state government because the Centre has more resources at its disposal. These schemes can either be national or regional in character. In CSS, the funding by the central government works as an initiation, with further spending coming from states towards the cause. The deadline for receiving the request for proposal (RFP) is August 30, 2024.

Niti Aayog working to deepen corporate bond markets, says annual report

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 .

Vision India 2047: Revolutionising the civil service for a new era

As India grapples with its unique set of issues and embarks on its journey to become a developed country, comprehensive reforms in the civil service are increasingly imperative

Congress slams NITI Aayog over shutdown of farm weather advisory offices

The Congress on Saturday alleged that 199 district agro-meteoreological units, which provided farmers at the block-level free-of-cost weather advisory services, were shut down as the NITI Aayog "misrepresented" their role to justify the decision. Congress general secretary in-charge communications Jairam Ramesh shared a media report on X which claimed that the farm weather advisory offices were shut in March this year as the NITI Aayog "misrepresented" their role and sought privatisation. "The India Meteorological Department shut down 199 district agro-meteoreological units (DAMUs). These agromet units provided all farmers at the block-level free-of-cost weather advisory services, and crucial information related to sowing, use of fertilisers, harvesting and storing crops," he said. Experts suggest that while the budget outlay for these units every year was around Rs 45 crore, the benefit was around Rs 15,000 crore, Ramesh pointed out. The shutdown was opposed by Union Minister Niti

Agriculture key focus area of development strategy in India: NITI member

Agriculture has been a key focus area of development strategy in India, and the country has achieved the highest growth rate of 5 per cent in the farm sector during the seven years from 2016-17 to 2022-23, Niti Aayog member Ramesh Chand said on Saturday. Addressing the 32nd International Conference of Agricultural Economists (ICAE), Chand said that according to the World Bank data, India achieved the highest growth rate in GDP agriculture in the world in the last 10 years. "Agriculture has been a key focus area of development strategy in India, and the country has achieved historically the highest growth rate of 5 per cent during the seven-year period from 2016-17 to 2022-23," he noted. The agriculture economist pointed out that the share of agriculture in the world GDP has risen from 3.2 per cent in 2006 to 4.3 per cent in recent years. "Agricultural growth in the last 15 years has saved many countries from economic collapse. Due to the poor effort of industry in pulling the labou

Waiting for takeoff

India needs a clear road map for development

India should grow at 7-10% for 20-30 yrs to avoid middle income trap: NITI

PM Modi said emphasis on skill, research, innovation and job based knowledge necessary for making 'Viksit Bharat'

Need to become a $30 trn economy with $18,000 per capita income: NITI paper

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 ..

PM Modi urges states to attract FDI, suggests 'investor-friendly charter'

Investor friendly charter, zero poverty and demographic management plans highlights of NITI Aayog meet

Treatment of West Bengal CM at NITI Aayog meet unacceptable: Cong

The Congress on Saturday said the treatment meted out to West Bengal Chief Minister Mamata Banerjee at a NITI Aayog meeting here was "unacceptable". The opposition party's scathing criticism of the government think tank came after Banerjee walked out of the 9th Governing Council meeting of the NITI Aayog, claiming she was unfairly stopped midway through her speech. The government rejected Banerjee's charges, saying the time allotted to her for speaking at the meeting was over. The Congress alleged the Niti Aayog has functioned as a "drumbeater" of Prime Minister Narendra Modi, who was chairing the meeting, since it was set up 10 years ago. The meeting was boycotted by Congress party chief ministers over alleged discrimination against non-NDA-ruled states in the Union Budget. Congress general secretary in-charge communications Jairam Ramesh said, "Since it was established ten years ago, NITI Aayog has been an attached office of the PMO and has functioned as a drumbeater for the ...

Not national issue: Puri on CM Banerjee's allegation at NITI Aayog meeting

Union minister Hardeep Singh Puri on Saturday played down West Bengal Chief Minister Mamata Banerjee's allegation that her mike was turned off when she was speaking at the NITI Aayog meeting in Delhi, stating that it was "not a national issue." Puri was speaking at a press conference here on the Union Budget, organised by the Gujarat BJP. Banerjee walked out of the NITI Aayog meeting claiming that her mike was muted five minutes after she started speaking. She claimed that other chief ministers were allowed to speak much longer. "I was not inside, and don't know how much time was given (for her to speak)," the Union minister told reporters when asked about the row. "But it is also said in Parliament that the mike has been turned off. It so happens that the mike is turned on when speaking. I do not know much about it. I have no idea how long she spoke. But I am certain that this is not a national issue, whether you spoke for 15 minutes or 18 minutes," he said.

NITI Aayog meet: Chhattisgarh CM Sai pitches for skill-based education, AI

Chhattisgarh Chief Minister Vishnu Deo Sai on Saturday pitched for promoting skill-based education, natural dispensaries and artificial intelligence in his state, as he committed his state's full support in achieving the goal of making India a developed country by 2047. Speaking here at the Governing Council meeting of the Niti Aayog, chaired by Prime Minister Narendra Modi, Sai listed various priorities and efforts being made for Chhattisgarh's development with an emphasis on education, human resource development, health and technological advancement. He said Chhattisgarh will play a pivotal role in "Developed India by 2047". At present, the state's GSDP (Gross State Domestic Product) is Rs 5.05 lakh crore, which is targeted to be increased to Rs 10 lakh crore in the next five years, and the state has started work on possibilities of improvements and achieving goals in various fields, Sai said. Emphasising the role of youngsters in the development of the state, the chief minister

D Raja justifies INDIA bloc CMs boycotting NITI Aayog meet, blames Centre

CPI general secretary D Raja Saturday justified the decision of several chief ministers to boycott the Governing Council meetings of the NITI Aayog, claiming that certain actions of the Centre are behind their move. Taxes and funds were not being shared properly by the central government, Raja alleged. "The CMs who are boycotting the NITI Aayog meeting have certain issues. There are very genuine issues. The Central government's actions were responsible for it," Raja told reporters here. Chief ministers of the INDIA bloc -- Stalin (DMK), Kerala's Pinarayi Vijayan (CPI-M), Punjab's Bhagwant Mann (Aam Aadmi Party), Congress's Siddaramaiah (Karnataka), Sukhvinder Singh Sukhu (Himachal Pradesh) and Revanth Reddy (Telangana), and Jharkhand's Hemant Soren (Jharkhand Mukti Morcha) -- skipped the NITI Aayog meeting. Stating that the Constitution defines India (Bharat), as a union of states, Raja said: "It means the union government should treat all the state governments equally and there ..

BJP hits out at Mamata for walking out of NITI Aayog meet, calls it drama

The opposition BJP in West Bengal criticised Chief Minister Mamata Banerjee for walking out of the NITI Aayog meeting in New Delhi on Saturday, claiming that it was a "drama" aimed at reaping political dividends. BJP's Rajya Sabha MP Samik Bhattacharya said it was a "weak script" prepared by Banerjee. "She was allowed due time at the NITI Aayog meeting. She did not go to the meeting for the economic benefit of the people of West Bengal but to reap political dividends and stage a drama by walking out," he claimed. "She portrayed herself as an opposition leader and not an administrator," he added. CPI(M) Rajya Sabha MP Bikash Ranjan Bhattacharya questioned why Banerjee attended the meeting in the first place when chief ministers of other INDIA bloc parties skipped it. "She was aware of the consequences. And her action again gives rise to the theory that she went to Delhi to have some understanding with Narendra Modi. People will realise the pretentiousness of the entire issue," he .

Mamata walks out of NITI Aayog meet, says not given adequate time to speak

West Bengal Chief Minister Mamata Banerjee walked out of a Niti Aayog meeting chaired by Prime Minister Narendra Modi here on Saturday and claimed that she was unfairly stopped midway in her speech, despite being the sole representative of the opposition. Government sources, however, rejected her claim and said her speaking time was over. Banerjee said her microphone was stopped after five minutes, while other chief ministers were allowed to speak for longer durations. "This is insulting. I will not attend any further meeting," the Trinamool Congress (TMC) supremo said. "I have come out boycotting the meeting. (Andhra Pradesh Chief Minister) Chandrababu Naidu was given 20 minutes to speak. The chief ministers of Assam, Goa, Chhattisgarh spoke for 10-12 minutes. I was stopped from speaking after just five minutes," she told reporters after coming out of the meeting of chief ministers chaired by Modi. "This is unfair. From the opposition side, only I am representing here. I attended

Mamata Banerjee alleges unfair treatment, walks out of NITI Aayog meeting

The West Bengal chief minister said that despite being the only opposition member participating, she felt it was insulting that she was not allowed to speak longer

NITI Aayog's Governing Council meeting begins under chairmanship of PM Modi

NITI Aayog's 9th Governing Council meeting chaired by Prime Minister Narendra Modi began here on Saturday. The meeting focuses on making India a developed nation by 2047. It aims to foster participative governance and collaboration between the Centre and state governments, enhancing the quality of life for both rural and urban populations by strengthening the delivery mechanisms of government interventions. The council, the apex body of NITI Aayog, includes all state chief ministers, lieutenant governors of Union Territories, and several Union ministers. Prime Minister Modi is the chairman of NITI Aayog. The meeting also focusses on recommendations of the 3rd National Conference of Chief Secretaries held in December last year. During the conference, recommendations were made on five key themes--drinking water: access, quantity, and quality; electricity: quality, efficiency, and reliability; health: accessibility, affordability, and quality of care;schooling: access and quality and

NITI Aayog meeting: Vision 2047 to Opposition boycott. All you need to know

The 9th Governing Council Meeting of NITI Aayog, chaired by Prime Minister Narendra Modi, is facing boycott from several Opposition chief ministers over a 'biased' Union Budget

Scrap NITI Aayog, bring back Planning Commission: Bengal CM Mamata Banerjee

In Delhi to attend a NITI Aayog meeting on July 27, West Bengal Chief Minister Mamata Banerjee on Friday said the public policy think tank brought by the Modi government should be scrapped and the Planning Commission should be brought back. Banerjee, who is set to attend the NITI Aayog meeting even as most INDIA bloc chief ministers have decided to give it a miss, said she felt their voices should be raised on a common platform. "They (BJP) have formed the government but they don't have people's mandate. This is the first time after the BJP came in, since 2014, they have not formed the government as a single party. She said that because of their "compulsions", the BJP-ruled NDA has brought a "politically very biased budget" which "deprives" all opposition states. "I thought it is my duty to raise this voice at least on a common platform though I know the NITI Aayog has no financial powers," she said. "Since the NITI Aayog has been planned, I have not seen a single work being done