During the ninth Governing Council meeting of NITI Aayog, Prime Minister Narendra Modi unveiled his vision for India to become a developed nation by 2047. The key priorities outlined by Modi include attracting foreign investment, eradicating poverty, and implementing river interlinking projects. India aims for a $30 trillion economy and a per capita income of $18,000 per annum by 2047. Efforts to reduce poverty have already shown progress, and India envisions becoming a global economic leader with vibrant rural areas and improved living standards. Modi emphasized the importance of collaborative efforts and comprehensive development strategies to achieve this ambitious vision.
India's Prime Minister, Narendra Modi, expressed his vision for India to become a developed nation by 2047 during the ninth Governing Council meeting of NITI Aayog. Modi outlined key priorities, including attracting foreign investment, eradicating poverty, and implementing river interlinking projects for shared prosperity. Despite some chief ministers' boycott and walk-out, Modi urged all states to enhance agricultural productivity, provide market linkages for farmers, and focus on skilling the youth for employment opportunities.
According to the approach paper for 'Viksit Bharat @2047,' India aims to achieve a $30 trillion economy and a per capita income of $18,000 per annum by 2047. BVR Subrahmanyam, CEO of NITI Aayog, highlighted three significant outcomes from the meeting: the development of an investor-friendly charter, poverty eradication, and the establishment of basic river grids.
Although net foreign direct investment (FDI) declined in FY24, India recognizes the need for higher investment, targeting 32% of GDP by 2030 and gradually increasing to 35% by 2047. Efforts to reduce poverty have shown progress, with 248.2 million people moving out of multidimensional poverty between 2013-14 and 2022-23.
India's vision for a developed nation includes becoming a global economic leader, attracting talent, trade, and capital. The country aims to have prominent business champions in various sectors, focusing on innovation and technology. Additionally, India envisions vibrant rural areas with living standards comparable to urban areas, ensuring rural incomes align with the national per capita income.
Demographically, India aims to raise the average life expectancy to 84 years, achieve a population stabilization of around 1.65 billion by 2047, and maintain a significant working-age population, making it the largest workforce globally. Modi emphasized the importance of natural farming practices, soil fertility improvement, and the adoption of demographic management plans to address future population challenges.
Modi stressed that the vision of "Viksit Bharat" should reach every level of society and encouraged states and districts to create their own visions for 2047. The realization of this vision requires collective efforts and a comprehensive approach to development.
Overall, India's ambitious goals reflect its determination to become a developed nation, with a focus on sustainable economic growth, poverty eradication, and improved living standards for its citizens. Through collaborative efforts and strategic planning, India aims to position itself as a global leader in various sectors, ensuring a prosperous future for the nation.
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