With five-year plans becoming a thing of the past, the first draft of the government's new 15-year vision document with a seven-year strategy and three-year action plan to steer the economy is likely to be ready before the Budget in February, 2017.
Prime Minister Narendra Modi on Thursday exhorted the NITI Aayog to prepare a comprehensive 15-year vision document which should encompass drastic policy reforms, efficient use of natural resources, innovation and technology-led governance to improve the lives of citizens.
“India cannot wait for incremental change. We need transformational change and that comes only with drastic policy reform,” Modi said, chairing a meeting of the Aayog brass on the vision document. He said the think-tank should lead the way in fostering innovative and out-of-the-box thinking for development of India. “(There is a) need for technological innovation in agriculture that will bring about a revolution, pull millions out of poverty,” he said.
With five-year plans becoming a thing of the past, the first draft of the government’s new 15-year vision document with a seven-year strategy and three-year action plan to steer the economy is likely to be ready before the Budget in February, 2017.
Besides vice-chairman Arvind Panagariya, the meeting was attended by Aayog’s members, CEO, senior advisers and
advisers. Modi, who is the chairman of the Aayog, shared his ideas on the strategy document. It will be prepared in close coordination with states.
The Centre would incorporate part of the three-year action plan in the FY18 Budget itself, which would be the first year of the new action plan. Among others, the vision document set parameters for translation of vision into specific and measurable goals as well as broad strategies to reach the vision over 15 years.
Further, it would talk about translation of broad strategies into specific seven-year checkpoints, major policy reforms needed – institutional and governance – at the central and state level.