Sir,
The vision of making India a 5 trillion dollar economy by 2024 as proposed by the present NDA dispensation is,perhaps, one of the most bold commitments ever made,as the present macro economic figures don’t present a hunky dory state. No doubt, inflation and fiscal deficit is controlled but other macroeconomic indicators like unemployment and manufacturing and export growth rates aren’t appealing at all. We, therefore need a comprehensive policy to achieve this magnanimous goal, for the present savings rate and gross fixed capital formation isn’t satisfactory.
Therefore,as stated by the NITI Aayog’s “India at 75” document, India should primarily focus on four major areas viz Doubling Farmer’s income; Boosting Make In India; Upgrading science, technology and innovation ecosystem and promoting sunrise sectors like tourism and fin tech. This coupled with an annual growth rate of nine percent would lead to a tremendous increase in job opportunities in the country,essential at this juncture when unemployment rates have breached 6 percent, the highest in last 45 years Also needed is an inclusive policy to align the Indian developmental goals with that of the SDGs of the United Nations, for India can’t turn a blind eye to the scourge of climate change.
It is, therefore,necessary to cling onto the specific objectives as mentioned in the Union Budget 2019,for it lays down a stable pedestal over which the superstructure of India’s growth story can be built. We understand that it’s not something that can be done overnight but what is needed is persistent efforts from all sections of the society to complement and supplement the efforts of the government so as to fulfill the idea of Sankalp se Siddhi. Rome, after all, wasn’t built in a day.
Ansh Chowdhari
Roop Nagar
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