Prime Minister Narendra Modi on Sunday called upon states to "speed up capital expenditure and infrastructure creation" to spur economic growth of the country at the NITI Ayog.
The Niti Aayog is the country’s top-most policy making body, and its governing council has among its members the Prime Minister and all chief ministers of the country. Highlighting different issues that are ceasing the country's growth rate PM Modi stated that there is an urgent need for the states work together for the country's economic development which he calls a vision to create a "New India."
Sunday’s meeting was called to discuss a ‘15-year vision document’ that would lay down the roadmap for India’s growth, economically and socially, reported Hindustan Times.
Advertisement
Addressing the third meeting of the Governing Council of NITI Aayog, PM Modi also said the think-tank's long, medium and short term action plans would benefit all the states.
"NITI Aayog is working on a 15-year long term vision, seven-year medium term strategy, and three-year action agenda," said PM Modi while addressing the NITI Ayog council members.
A report by the Hindustan Times also stated that due to demonetization the country’s GDP has slipped to 7.1% from 7.9% in the year 2016-17 and is required to be push back to 7.5% immediately to support the mission of the making of “New India.”
Advertisement
Highlighting the poor infrastructure which is hampering country’s economic development; PM Modi said more expenditure on basic infrastructure such as roads, ports, power and rail would help in accelerating the pace of growth.
Referring to the change in budget presentation date, the prime minister said the move enables timely availability of funds at the beginning of the financial year.
"Earlier, budgeted scheme funds were generally not approved by Parliament till May, after which they would be communicated to states and ministries. By that time, the monsoon arrived. Hence, the best working season for schemes was typically lost," he added.
He also called for carrying forward the debate and discussion on simultaneous Central and state elections. The meeting at the Rashtrapati Bhavan is being attended by several chief ministers, including from non-BJP ruled states like Punjab Chief Minister Captain Amarinder Singh, Bihar's Nitish Kumar, Tripura's Manik Sarkar and Karnataka's Siddaramaiah, reported Economic Times.
Talking about the Goods and Services Tax (GST), he said the consensus on the new indirect tax regime will go down in history as a great illustration of cooperative federalism. "GST reflects the spirit of 'One nation, one aspiration, one determination'," he added.
Appreciating state and central ministers, Modi said, “Team India has once again assembled today to discuss and reflect on ways to prepare India for changing global trends”.
Sunday’s NITI Ayog meeting has unveiled the draft of the new three-year action plan replacing the decades old five years plans, kick-starting a new era in planning.
