The NITI Aayog today unveiled its comprehensive national Strategy for New India, which defines clear objectives for 2022-23. It is a detailed exposition across forty-one crucial areas, that recognizes the progress already made,identifies binding constraints, and suggests the way forward for achieving the clearly stated objectives. The ‘Strategy for New India @75’was released today at a press conference by the Union Finance Minister Shri Arun Jaitley, in the presence of NITI Aayog Vice-Chairman Dr Rajiv Kumar, and CEO Shri Amitabh Kant.
The overarching focus of the Strategy document is to further improve the policy environment in which private investors and other stakeholders can contribute their fullest towards achieving the goals set out for New India 2022 and propel India towards a USD 5 trillion economy by 2030.The forty-one chapters in the document have been disaggregated under four sections: Drivers,Infrastructure,Inclusion and Governance. The first section on Drivers focuses on the engines of economic performance with chapters on growth and employment, doubling of farmers’ incomes; upgrading the science, technology and innovation eco-system; and promoting sunrise sectors like fintech and tourism.Some of the key recommendations in the section on drivers include: Steadily accelerate the economy to achieve a GDP growth rate of about 8% on average during 2018-23. This will raise the economy’s size in real terms from USD 2.7 trillion in 2017-18 to nearly USD 4 trillion by 2022-23. Increase the investment rate as measured by gross fixed capital formation (GFCF) from the present 29% to 36% of GDP by 2022.
