Representatives from four states including Maharashtra and Karnataka will also be members of the panel.
The services sector employs 188 million people but remains highly informal, trapping most workers in low-wage jobs without social protection.
Chief ministers of states like Andhra Pradesh, Kerala and Karnataka were among those who raised the issue of loan waver scheme for farmers.
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 second meeting of the NITI Aayog's governing council, was, however, attended by Bihar Chief Minister Nitish Kumar.
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.
The meeting was attended by 26 participants including Chief Ministers and Lt Governors of UTs, he said while briefing the media.
'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 Centre intends to consolidate the 44 central labour laws into 5.
Niti Aayog has come out with an initiative to improve governance in states.
Cabinet approves Khelo Bharat Niti, says it will bring India into top-5 of world sports
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).
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.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
In a communication sent to Kumar, the EC asked him to be cautious in future while making statements.
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.
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.
Planning Commission had got into a big controversy on this issue.
'India's farmers will be unable to compete with the US, given the subsidies that the latter provides its farmers.'
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.
Aayog feels expansion of the lowest base will enable more people to pay taxes.
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.'
Company says faults, which were noticed soon after system upgrade on March 27, have been rectified
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.
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.
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.'
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.'
US President-elect Donald Trump's pledge to impose high tariffs on three of its trading partners, including China will provide huge export opportunities for India and the domestic industry should prepare itself to tap into that, Niti Aayog CEO BVR Subrahmanyam said on Wednesday. Trump last week vowed to introduce 25 per cent tariffs (or customs duty) on imports from Mexico and Canada and an additional 10 per cent on China.
EV manufacturers point out that converting a regular petrol car into a flex-fuel vehicle requires only about Rs 17,000-25,000 per unit, whereas developing an EV demands vastly greater investments in research, battery development, and localisation.
'There'll be extended periods where things aren't working in your favour. But if you believe in the cause profoundly, then you simply persevere.'
Top executives from Siam and major carmakers recently met with Heavy Industries Secretary Kamran Rizvi to discuss the matter. Officials from NITI Aayog were also present.
The ministry stated that for vehicles designed for E10 and calibrated for E20, mileage may drop by just 1-2 per cent, while in other vehicles, it could be around 3-6 per cent.
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