The government think-tank came out with a three-year action agenda covering the period from FY18 to FY20 and a five year action strategy (FY19-FY23) to steer economic growth to an average 8%.
After a three-year action agenda and five-year strategy paper, the NITI Aayog is now preparing a 15-year Vision Document (FY21-FY35) to link the government policies and expenditure to the long-term economic, social and sustainable development goals. “The Vision Document will give a perspective about the size of India’s GDP by 2047, the 100th year of independence. In this context, the document will underline various economic and social goals to be achieved by FY35,” an official told FE.
The document, which will have 24 chapters, will be prepared by March-April 2020. The themes to be covered under the document include growth, investment and employment; infrastructure and transport; industry; water and land resources; data and public policy; ease of living; banking and finance; communication and digital technology; energy and education.
In May 2016, the PMO had advised the Aayog to prepare a 15- Year Vision, 7-Year Strategy and 3-Year Action Agenda to replace the outdated 5-Year Plans under the erstwhile Planning Commission. The government think-tank came out with a three-year action agenda covering the period from FY18 to FY20 and a five year action strategy (FY19-FY23) to steer economic growth to an average 8%.
Under the five-year strategy, it proposed that the Centre should take steps to raise investment rates to 36% of GDP, raise tax-GDP ratio to 22% of GDP and work with state governments to improve ease of business and rationalise land and labour regulations. It also suggested that the Centre fully codify labour laws; enhance female labour force participation to 30% from 24% now, enhance skills & significantly increase number of apprenticeships.