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19
December 2018
 |
Growth
(The Total Investment & Insurance Solutions)
Niti Aayog on Wednesday
estimated economic growth rate of about 8% on average during 2018-23 in its
much awaited strategy document for a new India by 2022. The Total Investment & Insurance
Solutions
This will raise the economy’s size in real terms from $2.7 trillion in 2017-18 to nearly $4 trillion by 2022-23 and Increase the investment rate as measured by gross fixed capital formation (GFCF) from the present 29% to 36% of GDP by 2022, the Aayog said.
Teh document has called for shift in agriculture with emphasis to converting farmers to ‘agripreneurs’ by further expanding e-National Agriculture Markets and replacing the Agricultural Produce Marketing Committee Act with the Agricultural Produce and Livestock Marketing Act.
This will raise the economy’s size in real terms from $2.7 trillion in 2017-18 to nearly $4 trillion by 2022-23 and Increase the investment rate as measured by gross fixed capital formation (GFCF) from the present 29% to 36% of GDP by 2022, the Aayog said.
Teh document has called for shift in agriculture with emphasis to converting farmers to ‘agripreneurs’ by further expanding e-National Agriculture Markets and replacing the Agricultural Produce Marketing Committee Act with the Agricultural Produce and Livestock Marketing Act.
The
document is likely to be a guiding document for policy makers going forward as
it sets targets for all ministries. The overarching focus of the strategy
document is to further improve the policy environment in which private investors
and other stakeholders can contribute their fullest towards achieving the goals
set out for New India 2022 and propel India towards a $5 trillion economy by
2030.
The forty-one chapters in the document have
been disaggregated under four sections: Drivers, Infrastructure, Inclusion and
Governance.The Total Investment &
Insurance Solutions
This is a detailed document that recognizes
the progress already made, identifies binding constraints, and suggests the way
forward for achieving the clearly stated objectives. It comes several months
after the Aayog released it's three-year action plan. This is expected to be
followed by 15 year vision document soon. The Total Investment & Insurance Solutions
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