Viksit Bharat @2047: Vision document being prepared to make India a $30 trillion economy, says NITI Aayog CEO
In 2023, NITI Aayog was entrusted with the task of consolidating the 10 sectoral thematic visions into a combined vision for Viksit Bharat @2047.
India@2047: The NITI Aayog is preparing a vision document to make India a developed economy of around $30 trillion by the year 2047 – the centenary of the country’s independence.
“The draft ‘Vision India @2047’ document will outline the institutional and structural changes/reforms that will be required for the country to become a developed nation by 2047,” NITI Aayog CEO BVR Subrahmanyam said on Wednesday.
Speaking at an address organized by industry body FICCI, Subrahmanyam said the NITI Aayog is preparing a vision plan for India to become a developed economy by 2047, adding that the document will be released by Prime Minister Narendra Modi in January next year.
In 2023, NITI Aayog was entrusted with the task of consolidating the 10 sectoral thematic visions into a combined vision for Viksit Bharat @2047.
Subrahmanyam gave a preview of some of the objectives outlined in the vision document for the country to become a developed nation. He said the government wants the university enrollment rate in India to increase from 27 percent to 50-60 percent.
“So the population of college students would increase from 4 crore to 8-9 crore. So we need a thousand more universities, in addition to the thousand universities we have now,” he said.
Subrahmanyam emphasized that as states are under fiscal pressure, funds for opening new universities will have to come from the private sector.
The NITI Aayog head noted that there is a need for education cities like Boston and San Francisco, where R&D and innovation can take place.
Noting that the average age of half of India’s population is below 29 years, the NITI Aayog CEO said, “We have a window of 25 years to tap into India’s demographic potential.”
Noting that India will have the largest workforce in the world, Subrahmanyam said that every year, thirteen lakh Indian students leave India to complete their higher education.
He emphasized that steps must be taken to attract more and more students to India.
(With input from agencies)