NITI Aayog releases strategy document for New India: Here’s what experts have to say
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Niti Aayog on Wednesday unveiled its much awaited ‘Strategy for New India @ 75’ document with an aim to accelerate growth to 8-9 percent and make the country a $4-trillion economy by 2023. Laying down a multi-pronged strategy to promote the country’s overall development, the document said the annual growth rate of 9 percent by …
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Niti Aayog on Wednesday unveiled its much awaited ‘Strategy for New India @ 75’ document with an aim to accelerate growth to 8-9 percent and make the country a $4-trillion economy by 2023.
Laying down a multi-pronged strategy to promote the country’s overall development, the document said the annual growth rate of 9 percent by 2022-23 would be essential for generating sufficient growth and achieving prosperity for all. Independent India will turn 75 on August 15, 2022.
Unveiling the much-awaited document, finance minister Arun Jaitley said, “Sound policy will always put economy on track in which it will get perpetually people out of poverty and give them better quality of life.”
From increasing irrigation coverage to hybrid seeds to public-private partnerships, it spells out various steps to boost productivity in agriculture.
The report calls for the adoption of the model agriculture produce and livestock marketing act of 2017. This act allows states to break the monopoly of Agricultural Produce Market Committee (APMC) and create new markets. It allows the setting up of private mandis and online trading of goods.
Ashok Gulati, agricultural economist; Surjit Bhalla, former member of the Prime Minister’s Economy Advisory Council; Kiran Kumar Vissa, farmer activist and Piruz Khambatta, CMD, Rasna discussed the report at length.
“To me doubling of farm income in real terms by 2022-23 looks more as a cruel joke,” said Gulati.
He said that the rate of growth with regards to real income has fallen for farmers under the current government.
According to Gulati, the government should create realistic growth targets when it comes to farmers.
Bhalla said, “I have proposed and I will continue to propose that remove all constraints on farming.”
Every government has intervened with the farmer, some slightly better, some slightly worse, he said.
Khambatta said, “This whole thing got fuelled because a few industrialists robbed the banks with crores of rupees. So the talking point is that if a few industrialists can run away with crores of rupees then why can’t farm loans be waived.”
Vissa said the loan waiver is a temporary solution. The demand for loan waiver is coming from a point that the government should take responsibility for this distress and provide some immediate relief, he said.
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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
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