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The policy-making think tank NITI Aayog unveiled its comprehensive national strategy for 2022, “New India @75”, which defines clear objectives for 2022-23. Here is the highlight for few objectives set by NITI Aayog for different categories and sectors:
Growth: Steadily accelerate the gross domestic product (GDP) growth rate to achieve a target of about 8 per cent during 2018-23. This will raise the economy’s size in real terms from USD 2.7 trillion in 2017-18 to nearly USD 4 trillion by 2022-23.
Besides having rapid growth, which reaches 9-10 per cent by 2022-23, it is also necessary to ensure that growth is inclusive, sustained, clean and formalized. The investment rate should be raised from 29 per cent to 36 per cent of GDP which has been achieved in the past, by 2022-23.
Industry: double the current growth rate of the manufacturing sector by 2022. Promote in a planned manner the adoption of the latest technology advancements, referred to as ‘Industry 4.0’, that will have a defining role in shaping the manufacturing sector in 2022.
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Minerals: Double the area explored from 10 per cent of obvious geological potential(OGP) area to 20 per cent. Accelerate the growth of the mining sector from 3 per cent in 2017-18 to 14 per cent, with an average growth of 8.5 per cent during 2018-23. Increase the job contribution (direct, associated and indirect) from the current 10 million (2 million in coal and major metals and 8 million in minor minerals) to 15 million in 2022-23.
Energy: The government’s on-going energy sector policies aim “to provide access to affordable, reliable, sustainable and modern energy”. At the convergence of its domestic goals and the global development agenda, it also intends to hit the following milestones on the way.
Make available 24×7 power to all by 2019. Achieve 175 GW of renewable energy generation capacity by 2022. Reduce imports of oil and gas by 10 per cent by 2022-23. Continue to reduce the emission intensity of GDP in a manner that will help India achieve the intended nationally determined contribution (INDC) target of 2030.
