Tuesday, October 4, 2022

NITI Aayog’s spells out a $4-trillion dream for India

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PW Bureau

The vision document released by the think tank made a strong pitch for privatisation of airports and key railway assets, and pushing the share of taxes in the national income

New Delhi: The government’s very own think tank NITI Aayog has come up with an ambitious blueprint to turn India into a $4-trillion economy in the next five years. The vision document, called Strategy for New India @75 and released by Finance Minister Arun Jaitley and NITI Aayog Vice Chairman Rajiv Kumar, makes a strong pitch for privatisation of airports and key railway assets, pushing the share of taxes in the national income to 22 percent from the current 17 percent and inclusion of services like fuel and electricity in the Goods and Services Tax (GST).

With a focus on keeping the growth sustained, inclusive, clean and formalised, NITI Aayog’s blueprint wants to fuel growth by steadily expanding India’s $2.7-trillion economy at the rate of 8 percent per annum and push it further to 9-10 percent by 2022-23.

Elaborating on the idea behind bringing the document out, Jaitley said that having clear-cut policy measures in place will put India Inc on track, reduce poverty and improve the quality of life. The document comes just months ahead of the 2019 General Elections.

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