Prime Minister Narendra Modi will chair the eighth meeting of the Governing Council of Niti Aayog on May 27 to deliberate with chief ministers on a range of issues including growth and jobs, sources said.
Broad themes such as crop diversification, MSME sector growth, education, agriculture and urban governance, are also likely to be discussed, sources said.
The meeting assumes importance after Modi’s Bharatiya Janata Party lost assembly elections in Karnataka and a spate of assembly elections are slated by the end of 2023 before general elections in April-May 2024.
The Centre would be broadly highlighting the government’s mission of making India a developed nation by 2047, the 100th year of Independence.
Besides placing their demands, state chief ministers, especially from opposition-ruled states are likely to present their views on the Centre-state relations, and issues with regard to central schemes.
India’s aim of achieving a $5 trillion economy by FY26 or thereabout from $3.5 trillion in FY23, requires a compound annual growth rate (CAGR) of a little over 10%, an average trend growth rate seen in the last decade.
Five states — Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh and Gujarat – that constitute approximately 40% of the country’s nominal GDP would play a key role in this national goal’s achievement.
A conservative 7-7.5% real economic growth can make India an upper-middle-income country by 2047, but the growth rate needs to accelerate to 8-8.5% to make the country a higher-income nation, economic advisory council to the prime minister (EAC-PM) chairman Bibek Debroy had said.
