The 2026-27 Budget, seeking to harmonise the government's imperative to grant certainty while ensuring a rational tax policy, had several notable announcements to usher in halcyon days, says Mukesh Butani.
Representatives from four states including Maharashtra and Karnataka will also be members of the panel.
Chief ministers of states like Andhra Pradesh, Kerala and Karnataka were among those who raised the issue of loan waver scheme for farmers.
NITI Aayog member Arvind Virmani on Monday said India is set to become the fourth largest economy in the world by the end of 2025, an assertion which came days after NITI CEO BVR Subrahmanyam claimed India has already overtaken Japan to reach that spot. The International Monetary Fund (IMF), in its World Economic Outlook (WEO) report released in April had said that India is expected to be the fourth largest economy in the world with a GDP of $4.19 trillion in 2025, ahead of Japan.
The second meeting of the NITI Aayog's governing council, was, however, attended by Bihar Chief Minister Nitish Kumar.
Indian economy is expected to grow 10.5 per cent or more in the current fiscal, Niti Aayog Vice Chairman Rajiv Kumar said on Thursday. Speaking at a virtual conference organised by the Public Affairs Forum of India (PAFI), he also said that modernisation of the retail sector is very much on the cards. "India Purchasing Managers' Index (PMI) for both manufacturing and services has shown a very smart uptick last month. "This (Indian economy) will strengthen even further," he said. "I expect Indian economy to grow 10.5 per cent or higher in FY 22," he noted.
The services sector employs 188 million people but remains highly informal, trapping most workers in low-wage jobs without social protection.
Bibek Debroy raised seven questions about the new institution.
The country's present growth rate is 7.6% and its economy is $1.7 trillion.
'We will give Rs 25,000 to parents having a second child or more at the time of delivery itself.'
'AI will be bigger than the advent of the Internet or the harnessing of electricity.' 'India must embrace it with all its might,' says NITI Aayog CEO Amitabh Kant.
All elections in India should happen in a free, fair and synchronised manner to ensure minimum "campaign mode" disruption to governance, the government think tank said in its report released recently.
The meeting was attended by 26 participants including Chief Ministers and Lt Governors of UTs, he said while briefing the media.
The Centre intends to consolidate the 44 central labour laws into 5.
Niti Aayog has come out with an initiative to improve governance in states.
India should resist knee-jerk responses to tariff volatility in the US and instead use the current geopolitical churn to build manufacturing scale at home, former G20 Sherpa and former chief executive officer of NITI Aayog Amitabh Kant said on Wednesday.
India is already a heavyweight in global farm trade in pockets such as rice exports, but experts are urging a pivot from a subsidy- and procurement-driven mindset to a productivity and nutrition strategy that still shields farmers from volatility.
In a communication sent to Kumar, the EC asked him to be cautious in future while making statements.
Cabinet approves Khelo Bharat Niti, says it will bring India into top-5 of world sports
Upgrading capabilities in manufacturing and logistics and bridging the gap between rural and urban incomes are some of the structural challenges that India needs to address, according to a document prepared by NITI Aayog. In the document titled 'Vision for Viksit Bharat @ 2047:An Approach Paper, the Aayog said India needs to avoid the middle-income trap and carefully work towards breaking out of it.
India has become the world's fourth largest economy, overtaking Japan, according to NITI Aayog CEO B V R Subrahmanyam. He cited IMF data, stating that India's economy is now larger than Japan's, with a USD 4 trillion GDP. Subrahmanyam also highlighted the favorable geopolitical and economic environment for India, predicting that within 2.5-3 years, India will become the third largest economy.
Planning Commission had got into a big controversy on this issue.
The food delivery platform sector in India employed 1.37 million workers in the financial year 2023-24 (FY24) and is growing at a compound annual growth rate (CAGR) of 12.3 per cent, estimates a new report released by the Delhi-based think tank National Council of Applied Economic Research (NCAER).
The government has extended the tenure of the 16th Finance Commission by one month till November 30. The 16th Finance Commission was constituted by the government on December 31, 2023, with former Niti Aayog vice-chairman Arvind Panagariya as its Chairman.
'India's farmers will be unable to compete with the US, given the subsidies that the latter provides its farmers.'
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
Aayog feels expansion of the lowest base will enable more people to pay taxes.
Company says faults, which were noticed soon after system upgrade on March 27, have been rectified
India's new national accounts will leverage new data sources and surveys to enhance the measurement of the country's informal economy, and introduce double deflation methods across sectors, replacing the current system that relies on a single deflation mechanism in Gross Domestic Product (GDP) calculations.
Making India a developed nation by 2047 is an ambition of every Indian, and states can play an active role in achieving this aim as they are directly connected with the people, Prime Minister Narendra Modi said on Saturday. Modi is chairing the 9th Governing Council meeting of NITI Aayog.
In terms of MLA salaries, Odisha is followed by Telangana (about Rs 2.7 lakh), Maharashtra (Rs 2.6 lakh), Manipur (Rs 2.5 lakh), and Uttar Pradesh (Rs 2.4 lakh).
'Poverty eradication is a continuous process. There is no full stop to it.'
He will replace Amitabh Kant, who will demit office on June 30. Iyer has been appointed for two years or until further orders, whichever is earlier, the personnel ministry order stated.
'Reciprocal tariffs are not going to affect India except specific sectors and there are opportunities to capture.'
The government aims to cover around 60 million people in the age category, irrespective of income, with an assured 5 lakh annually to be shared within the family.
Kant, a retired 1980-batch Indian Administrative Service (IAS) officer of Kerala cadre, was appointed as India's G20 Sherpa in July 2022, months before India assumed the G20 Presidency.
Jammu and Kashmir Chief Minister Omar Abdullah has stated that the conversation regarding the restoration of statehood to Jammu and Kashmir has not been stalled. He claims the issue was raised at the recent NITI Aayog governing council meeting, and the formal speech distributed at the meeting includes a mention of the return of statehood. Abdullah also addressed concerns about the impact of the Pahalgam terror attack on tourism, emphasizing the importance of local Kashmiris visiting tourist spots first to revive the industry and ensure a sense of security.
Efforts are underway to integrate AI education into all degree programmes -- including BA, BCom, BSc, and specialised courses.
Amid the political push and pull, the Centre's decision to allow sugar exports and remove the 50 per cent duty on molasses exports has rekindled hope in the industry that more relief may follow.
'I don't think it is right to remove him over one lapse. The focus should be on restoring operations, not on removing a key management personnel.'
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