New Delhi May 30: Prime Minister Narendra Modi will unveil a 25-year economic road map for the country, including the target size of the gross domestic product (GDP) by 2047, next Monday, according to official sources. He will also list out the challenges the country may face in the “Amrit Kaal” of the next 25 years in uplifting living standards of people. The road map will be announced when he inaugurates the ‘Azadi Ka Amrit Mahotsav (AKAM)’ Iconic Week of the finance and corporate affairs ministries in Delhi.
Modi will also launch coins with the AKAM design and a national portal for credit-linked government schemes.
India’s nominal GDP in 2021-22 is estimated to attain a level of `236.44 trillion (over $3 trillion), as against `198.01 trillion in 2020-21, showing a growth rate of 19.4%, according to the National Statistical Office. It could grow by 14-15% in 2022-23.
Modi in 2019 had envisioned making India a $5-trillion economy in nominal terms by 2024-25. However, it is now clear that that target will be missed.
The government had set up various committees headed by the secretaries concerned to outline the future course of action from accelerating economic growth and reducing the tax burden to action on the climate front and poverty reduction. Reports of these committees will be discussed during the week-long event to create awareness of government initiatives across the country.
The departments of economic affairs, revenue, expenditure, investment and public asset management, financial services, public enterprises and corporate affairs will hold events across the country to showcase their legacy and future plans.
On June 10, the department of investment and public asset management (Dipam) will hold a conference on the theme ‘Creating Wealth through Market’ in 75 cities. “The new public sector enterprises policy will also be deliberated on in the conferences,” Dipam secretary Tuhin Kanta Pandey said.
On June 8, the department of financial services will hold credit outreach programmes and enrolment of beneficiaries under Jansurksha schemes such as PMJJBY, PMSBY and APY.
