Team Blitz India
NEW DELHI: NITI Aayog, the central think tank, is in advanced stages of finalising the year-long exercise of developing a 25-year vision to make India a $30 trillion economy by 2047, its Chief Executive Officer BVR Subrahmanyam said on October 28.
He said several long-term goals had broadly been identified and PM Modi would unveil the vision document soon. These goals include a per capita gross domestic product (GDP) of $17,590, $8.67 trillion of exports, and Rs 1,273 trillion of investments by 2047. “A lot of the inputs through departmental SGoS (Sectoral Groups of Secretaries) have come. Now, we are working on the big picture and harmonising these inputs. Some implementation plans will be added and by December, we will have the draft vision ready,” he told reporters.
The exercise was started by the Cabinet Secretary in December 2021, following which 10 sectoral groups were formed on rural and agriculture, infrastructure, resources, social vision, welfare, finance and economy, commerce and industry, technology, governance, and security and foreign affairs. The final presentation with these SGOSs will be done in the first week of November.
According to Subrahmanyam, a major worry for the Centre in the medium term is a middle-income trap, where India might have a per capita income of $5,000-6,000 and then have a slowdown in its pace of growth. “The whole point of the vision is to avoid that and take it to the next level,” the NITI Aayog CEO said.