NITI projects threefold jump in GDP by 2032

Mukesh Ranjan

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Tribune News Service

New Delhi, April 23

As NITI Aayog’s Vice-Chairman Arvind Panagariya made a presentation at the meeting of the Governing Council detailing contours of long-term (15 years) vision, medium term (seven years) strategy and short term (three years) action plan, it is projected that India’s GDP will grow at an average rate of 8 per cent from Rs 137 lakh crore in 2015-16 to Rs 469 lakh crore (over threefold increase) in 2031-32.

Dr Panagariya, after the meeting, said: “We have outlined and prescribed to both the Centre and states to adopt a little over 300 action points covering the whole gamut of sectors.” Since there was a “near consensus” on the measures “we proposed”, NITI Aayog would now “quickly put together the draft action plan” before the chief ministers, as the “planning regime has ended on March 31, 2017” with completion of 12th Five-Year Plan (2012-17). He said: “The period of the action plan coincided with the period of the 14th Finance Commission’s award and thus this gives stability to the funding estimates of both Centre and states.”

In a separate presentation, an official statement said, CEO of NITI Aayog Amitabh Kant informed the dignitaries of the work done by the national think tank in transforming the economy and cooperation with states in the sectors of education, health, infrastructure, etc. “We are re-working the government’s institutions like the Indian Medical Council (IMC), University Grant Commission by innovating them to the evolving needs,” he said.

Elaborating the work done by the sub-groups of CMs on rationalisation of centrally sponsored schemes, Swachh Bharat Mission and Skill Development, Kant outlined initiatives taken in areas such as agriculture, poverty elimination, health, education, digital payments, disinvestment, coastal zone and island development, etc.

Revenue Secretary Hasmukh Adhia made a presentation on GST, while explaining the benefits of the system and the way forward.