New India @75 -Brief Information
- Essential GDP Growth Rate of 9%: This growth rate is required to generate enough jobs.
- Economical Growth Rate: A target economic growth of $4 trillion by the year 2022-23, currently at $2.7 trillion 2017-18.
- The 41 (forty-one) chapter vision document, Highlights four broad sections, such Drivers, Infrastructure, Inclusion, and Governance.
Weakness/Barriers to the Indian Economy
- The lack of middle institutions is a big barrier to industrial infrastructure
- Cluster and association of SMB are missing and need to be formalized than formalizing small enterprises excessively.
- Professionally management of a formal cluster is required, this will help connect the formal and informal sides of the economy.
- Not the volume of the manufacturing sector, but the proper shape matters more.
- Capital-intensive industries will not solve the problem, instead, Labor-intensive industries are required to generate employment.
- NITI Aayog has a very ambitious plan and clearly highlighted the clustering of SMBs as a primary strategy for the upliftment and growth of the competitive industrial sector.
Highlights of the Vision Document
- Doubling the farmer's income, promote “Make in India” Fin-Tech and Tourism in India, startup incubators, and an innovation ecosystem.
- Making it more convenient to join the Govt. civil services, by reducing the age from 30 years to 27 years for General Category applicants by the year 2022-23 and integrated exams in all respective civil services.
- Establishment of 150,000 healthcare centers across the country under the “Ayushman Bharat Program” to implement the "Pradhan Mantri Jan Arogya Yojana’
- The vision document called for creating “Agripreneurs”, the creation of the agriculture-based industry, at a faster pace, and uplift the framer's livelihood through their active participation.
- Privatization of “Indian Railways” from ownership to the modernization of railway stations.
- Recycling initiative through “Swachh Bharat Mission” and generation of wealth/energy from waste.
- Elimination of direct communication/interface between taxpayers and officials using the latest technology.
- Encourage paperless banking, making schools more inclusive of financial literacy.
- Finding a way to target the poorest among the minority communities, through census data to rollout various schemes to uplift their livelihood and socio-economic situation.
Recommendations under sections
Drivers Focus on Economic Growth)
- Economic growth to achieve a GDP of 8%-9% (time-frame 2018-2023).
- Fat size of the economy from the current $2.7 trillion (2017-18) to $4 trillion (2022-23) to $5 trillion eventually in 2030
- Increase in investment, i.e. from GFCF 29% to 36% of GDP in 2022.
- Encouraging the active participation of farmers and related processing industries, the approach is to create more “Agripreneurs”.
- The materialization of “Zero Budget Natural Farming”.
- Maximum employment, rejuvenation of labor laws, and scaleup the apprenticeships.
- “Explore in India”, licensing policy for minerals exploration.
Infrastructure (Physical Foundation of Growth) :
- Railways Development Authority (RDA) to make a decision and devise the mechanism for pricing for railways.
- Funding and infrastructure of IT-enabled integrated freight and transportation for multiple modes of transportation and digitized mobility.
- Digitization and connecting 250,000-gram panchayats through the “Bharat Net Programme in 2019” by the year 2022-23.
Inclusion (Identifying, facilitating, and investing in capabilities of Indian citizens):
- Implementation of the Ayushman Bharat program through the establishment of 150,000 health and wellness centers across India, and eventually the Pradhan Mantri Jan Arogya Abhiyan (PM-JAY).
- Lay foundation for the “Ayushman Bharat program” by the establishment of 250,000 health care centers across India.
- Creating a platform/framework of healthcare at the central and state levels to facilitate the “Pradhan Mantri Arogya Abhiyan”.
- Uplift the quality of the education system in schools and create appropriate ecosystems at the grassroots level (Atal Tinkering Labs by 2020).
- Affordable housing programs in Urban regions for strong economic growth
- Tracking each child’s learning capability and its outcome thus provides them an appropriate platform.
Governance (Structuring the governance for synchronizes growth)
- Address the Backlog of Pending Cases
- Widen the scope of Swachh Bharat Abhiyan, to recycle waste and generate wealth and energy. Reducing the carbon footprint.
- Implement the “Second Administrative Reforms Commission”.
- Establish the autonomous body “Arbitration Council of India”.