n Modi, CMS to draw up plan for developed economy status

Prime Minister Narendra Modi and chief ministers will discuss the steps needed to help India become a developed country by 2047 at NITI Aayog’s governing council summit on Saturday, a person informed about the development said.

- Gireesh Chandra Prasad

 

With eye to achieving developed country status by 2047, the 100th anniversary of Independence, the Central government will seek suggestions from states to stitch together a 25-year blueprint for growth with focus on seven-to-eight specific areas that are vital to economy and human development.

At the meeting, central government ministries, NITI Aayog, Prime Minister's office and state governments will seek ways to strengthen small businesses-a major job creator and the back bone of manufacturing and exports, the person quoted above said on condition of not being named.

The identified focus areas have already been shared with state level leadership. Agro and food processing sectors will get special attention.

The second area of focus is capital expenditure.

The effort is to identify the capex requirement needed to achieve the annual economic growth targets over the medium term so that the developed economy status can be achieved.