Govt embarks on ‘Vision 2047’ to put India on the developed economy’s path
Summary
Vision 2047 will set specific targets for different economic sectors, the officials said on the condition of anonymity. The vision plan is expected to be finalized by next month, and an official announcement is likely around 15 August, the 75th anniversary of Indian independenceNEW DELHI : The Prime Minister’s Office (PMO) is working on a blueprint for India@2047, a vision plan to make the country one of the world’s top three economies and bring it closer to developed nation status by the 100th year of its independence, two officials aware of the matter said.
The plan will set specific targets for different economic sectors, the officials said on the condition of anonymity. The vision plan is expected to be finalized by next month, and an official announcement is likely around 15 August, the 75th anniversary of Indian independence.
A Sectoral Group of Secretaries (SGoS) with top officials from 10 sectors has been directed to finalize and present the plan at the earliest. The PMO and the Cabinet Secretariat are constantly evaluating inputs from the group, the people cited above said.
“We want to shift India from the ranks of merely being an emerging developing economy to a developed one where all its citizens have purchasing power that is among the best in the world. For this, early planning and long-term goals are absolutely essential, and this is what the government is doing now to make India future-ready," said one of the government officials cited above, seeking anonymity.
Individuals from outside and within the government and institutional experts are being invited to help frame the blueprint. The SGoS has been given instructions to identify achievable targets within the stipulated time and set realistic targets, timelines, and milestones. These will act as the foundation for future growth.
So far, the key areas identified are agriculture, commerce, infrastructure, industry, urban landscape, security and defence, technology and governance. Benchmarking regulations, procedures and processes to international standards and aligning them to global standards has also been listed as a major area of work.
Queries emailed to the spokespeople for PMO, Cabinet Secretariat, and the finance ministry on Thursday remained unanswered until press time.
Within the decade, all ministries have been asked to identify focus areas to position India as a leader in these sectors. This will involve executing plans such as restructuring and merging public sector banks to create 3-4 megabanks, developing 3-4 global champions in every sector by merger or restructuring, developing the semiconductor industry and showcasing India as a hub of green technology.
The vision plan is expected to extend ‘Azadi Ka Amrit Mahotsav’, a government initiative to celebrate 75 years of India’s independence and the glorious history of its people, culture and achievements through annual programmes for the next 25 years.
“All ministries already have a perspective plan. We are looking to give it a relook in line with various economic measures coming into play over the last couple of years and set long-term goals that aim to take the sector to the next level of growth and development," said Giridhar Aramane, Union road transport and highways secretary.
On the social sector side, some of the proposals include balanced development, ease of living, universal access to basic healthcare, enabling growth of micro, small and medium enterprises, eliminating the digital divide and exploring how technology can be used to help India achieve its true growth and welfare potential. Also, revamping the energy mix to reduce dependence on fossil fuels and scaling up the share of renewables and new clean fuels like green hydrogen and methane are among the government’s medium-term policy goals.
The plan is also to achieve far-reaching transformation in health, education, security and governance. A fresh look at sectoral goals will mean the impact of the pandemic and lockdown restrictions on key sectors of the economy, and vulnerable sections of the population will be assessed for recalibrating policy priorities. Also, the distance to be covered to achieve sustainable development goals like eliminating poverty and ensuring quality education and gender equality by 2030 will be a key consideration while setting fresh development milestones.