New Delhi, Growth rate at 8 per cent, investment at 36 per cent, and agripreneurs, codification of labour laws and revamping of minerals exploration policy are the prescribed drivers for India to become a $5-trillion economy by 2030, as per NITI Aayog.

Drawing inspiration and direction from Prime Minister Narendra Modi’s clarion call for making a New India by 2022, NITI Aayog — the government’s premier think tank — released a strategy document detailing a comprehensive agenda for India on Wednesday.

“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 USD 5-trillion economy by 2030,” the document said.

The detailed exposition in “Strategy for New India @75” (India turns 75 in 2022) across 41 crucial areas recognises the progress already made, identifies binding constraints and suggests the way forward for achieving the clearly stated objectives.

Seeking a “Jan Andolan” (people’s movement) for economic transformation to become the New India, the document, released by Finance Minister Arun Jaitley, prescribes a growth rate of 8 per cent over the next five years during 2018-23.

“Steadily accelerate the gross domestic product (GDP) growth rate to achieve a target of about 8 per cent during 2018-23. This will raise the economy’s size in real terms from USD 2.7 trillion in 2017-18 to nearly USD 4 trillion by 2022-23. 

“Besides having rapid growth, which reaches 9-10 per cent by 2022-23, it is also necessary to ensure that growth is inclusive, sustained, clean and formalised,” the document said.

The investment rate should be raised from 29 per cent to 36 per cent of GDP — which has been achieved in the past — by 2022-23. It also said exports of goods and services combined should be increased from $478 billion in 2017-18 to $800 billion by 2022-23.

The 41 chapters have been disaggregated under four sections namely drivers, infrastructure, inclusion and governance.

With a special focus on farming, the document suggests converting farmers into “agripreneurs” by further expanding e-National Agriculture Markets and replacing the Agricultural Produce Marketing Committee Act with the Agricultural Produce and Livestock Marketing Act.

“Give a strong push to ‘Zero Budget Natural Farming’ techniques that reduce costs, improve land quality and increase farmers’ incomes. This has emerged as a tested method for putting environment carbon back into the land,” it said.

It also favours complete codification of labor laws and a massive effort to upscale and expand apprenticeships to ensure maximum employment creation.

Further, the document suggests launching a mission “Explore in India” by revamping minerals exploration and licensing policy.

The second section on infrastructure deals with the physical foundations of growth which are crucial to enhancing the competitiveness of Indian business as also ensuring ease of living for the citizens.

It suggested expediting the establishment of the Rail Development Authority (RDA), which is already approved. RDA will advise or make informed decisions on an integrated, transparent and dynamic pricing mechanism for the railways, it said.

“Double the share of freight transported by coastal shipping and inland waterways. Initially, viability gap funding will be provided until the infrastructure is fully developed. Develop an IT-enabled platform for integrating different modes of transport and promoting multi-modal and digitised mobility,” it added.

Further, as part of infrastructure, it suggested completing BharatNet programme in 2019, which will digitally connect all 2.5 lakh Gram Panchayats in the country. 

Aim to deliver all government services at the state, district and gram panchayat level digitally by 2022-23, it said.

The section on inclusion deals with investing in the capabilities of all citizens of India. Three themes in this section are health, education and mainstreaming of traditionally marginalised sections of the population.

Successful execution of government-run healthcare programmes Ayushman Bharat and Pradhan Mantri Jan Arogya Abhiyaan will be a prerequisite for the New India, it said.

“Upgrade the quality of the school education system and skills, including the creation of a new innovation ecosystem at the ground level by establishing at least 10,000 Atal Tinkering Labs by 2020,” it said and suggested to have an electronic national educational registry for tracking each child’s learning outcomes.

It also talked about offering affordable housing in urban areas to improve workers’ living conditions and to ensure equity while providing a strong impetus to economic growth.

The document also delved into how the governance structures can be streamlined and processes optimised to achieve better developmental outcomes.

New Delhi, President’s rule will be imposed in Jammu and Kashmir from Wednesday midnight with President Ram Nath Kovind signing a proclamation to give effect to the recommendation of the state Governor Satya Pal Malik.

Home Ministry officials said that Kovind has signed the proclamation based on the proposal sent by the ministry following a report by the state governor.

The term of Governor’s Rule, imposed in the state in June this year, comes to an end on Wednesday. 

The state had plunged into a political crisis in June this year after BJP withdrew from the coalition government with People’s Democratic Party. Last month Malik dissolved the state assembly which had been kept in suspended animation. 

Under the provisions of Jammu and Kashmir Constitution, Governor’s rule can be imposed for six months, but with consent of the President. The Constitution grants special status to Jammu and Kashmir.

New Delhi,  On Congress chief Rahul Gandhi’s demand for loan waivers for farmers, NITI Aayog Vice Chairman Rajiv Kumar on Wednesday said farm loan waivers are just a palliative and not a long-term solution for the farming community.

However, he said short-term measures might be required in some states that are facing real farm distress. The Centre does not take a pan-India view on the issue as it would not be fair for farmers in states where the loan exposure is very less.

“Farm loan waiver is not a solution. It’s just a palliative. This is a state government prerogative whether they want to give the farm loan waivers, as agriculture is a state subject,” Kumar said on the sidelines of release of NITI Aayog’s “New India – 2022” strategic document.

“The states have to look into their own fiscal resources and go ahead with what they want to do. In states, where there is a genuine and real farm distress, some short-term measures would have to be taken. This is in that nature, it’s not a long- term solution for the farmers’ problem or for agricultural modernisation,” he said.

On the employment data that the NITI Aayog has been working on, he said the actual data on employment would be out in “a fraction of a year” after the Central Statistics Office (CSO) completes its household survey for both rural and urban employments.

As for the liquidity concerns in the economy and the possibility of rate cut by the Reserve Bank of India, Kumar said the current inflation figures, which are well below the target of four per cent, itself call for a rate cut to support liquidity and growth in the economy.

Further, on Prime Minister Narendra Modi’s announcement that 99 per cent items could soon see 18 per cent Goods and Services Tax (GST) or less, Kumar said: “About 97 per cent of the items are already at or below 18 per cent GST and as the taxbase widens and there is a revenue buoyancy, 99 per cent of items can come below 18 per cent tax, leaving only the non-merit items like cigarettes and alcohol in the above 18 per cent category.”