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Reading: Vision document to make India a $30 trillion economy by 2047 in final  phase, project  to be ready by December 
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Vision document to make India a $30 trillion economy by 2047 in final  phase, project  to be ready by December 

Team Happen Recently
Last updated: 2023/10/30 at 2:10 PM
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 NITI Aayog  consolidates  ten  sector-wise  thematic visions into  a single document “Viksit  Bharat @  2047”; Some  states  developed parallel  visions  

  NITI Aayog CEO BVR Subrahmanyam said on Sunday that the  vision document aimed at making India a developed  nation  is in  the  final stages and  the  draft is expected to be ready by December,  he added. that this  document will be made public  after  three  months.  Ten  Sectoral Groups  of  Secretaries  (SGoS) from various ministries  established  around themes  such as  infrastructure,  social protection, trade  and industry,  technology  and  governance,  each prepared a vision document  throughout the  nearly  two-year process.  

 NITI Aayog, which was tasked with  consolidating  ten  sector-wise  thematic visions in July this year, has also  predicted  that  the Indian  economy will be worth $30 trillion  by  2047, with a per capita GDP of  17,590 USD.  

 While Subrahmanyam did not  reveal  the  contents  of the draft vision document being  put together  by NITI Aayog, he added that the document  points out  the sectors and technologies in which India  is expected to lead  by  2047.  and  address the  institutional and structural reforms  needed  to  achieve this.  He also  said  that the  outcome document ‘Viksit  Bharat @  2047’  will be  important  in helping India avoid the middle-income trap, which remains a major concern in policy circles. 

  Subrahmanyam shared that the  10  SGoS started preparing their respective vision documents in December 2021 based on  the policy briefs  and  general  economic parameters and  forecasts released  by the Ministry of  Finance . Ten  SGoS, based on  the  themes of rural and  agricultural,  infrastructure, resources, social vision, welfare, finance and  economics, trade  and industry, technology, governance,  as well as such as  security and foreign affairs,  has  also  conducted extensive  consultations with  many different  think  tanks and researchers. 

Organisations, chambers of  industry  and export promotion councils.  For example, the SGoG on  Trade  and  Industry  consulted  more than  20,000 people. 

  The apex  political  think tank has also announced plans  to consult  thought leaders like Mukesh Ambani, Gautam Adani, Nandan Nilekani, N Chandrasekaran, among  others,  in the  last  week  end  of November.  Ten  SGoS have also created their vision documents keeping in mind  the  eight megatrends expected to shape the world by 2050,  among them the changing demographics of  India and  Africa,  higher income  polarization, the rise of climate disasters,  and various disruptive trends  related  to technological advances and geopolitical risks.  

 NITI Aayog is also helping Gujarat and Andhra Pradesh prepare  documents on  vision  while other states like Uttar Pradesh, Tamil Nadu,  Goa  and Uttarakhand are preparing  documents independently. When asked  how NITI Aayog plans to align  the state  vision documents with the national vision document, Subrahmanyam  said: “This is  one of the questions  we are addressing.  I think NITI will have to  hold hands.  The good thing is that most  states  only  prepare  vision documents for the next five years while  we do  it  much longer. We will play a role from now on  because this is  a serious  exercise. 

Preliminary forecast  results from NITI  Aayog  also predict that  India’s  exports will  reach a value of 8.67  trillion  USD  in  2047,  while  the country’s  imports will  reach a value of 12.12 trillion USD.  The apex  institute of  policy  research  also predicts  that India’s  life expectancy  will increase  to 71.8 from 67.2 in 2021 and  the  literacy rate  will increase  to  89.8%  from  77.8%  in  2021 .  

Source www.indianexpress.com

 “2047 will be a very different India. It will  have a high degree of urbanization.  Where we live,  how we get around,  the  type  of  work  we do, what we  eat – everything will  change  dramatically between now and then.  The way the government is structured also  needs  to change,” Subrahmanyam said. He added that the government needs  a  radical restructuring, both horizontally and vertically,  so  that  lower levels of government  are fully responsible for  implementation so that senior officials can spend more time  on build ideas.  

 Last week, it was announced that  consulting firm BCG has also been hired by the government to  help prepare  the  ‘Viksit  Bharat @  2047’  document, which was first  projected  by  Prime Minister  Modi in December 2021.  

For more information visit at https://happenrecently.com/zepto/?amp=1

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