India can become $10 tn economy with no poverty: Kant
New Delhi: Niti Aayog Chief Executive Amitabh Kant on Thursday presented to Prime Minister Narendra Modi an eight-point action plan that would help the country grow at 10 percent per annum and become a $10 trillion economy by 2032.
The former industry secretary, in a presentation before the prime minister at the Civil Services Day function here, said the action plan — which was called for in December — is already being implemented in tandem by seven secretaries covering inclusive growth to employment generation.
“Growing at 10 percent per annum will transform India — India will become a $10 trillion economy with no poverty in 2032,” said Kant, adding the country, in the process, will add 175 million new jobs, with no person below the poverty line.
But giving another scenario of a 7 percent growth per annum, he aid, this will make India a $6 billion economy by the same year, create 115 million jobs, with 5-6 percent of the population still living below the poverty line.
India presently is a $1.7 trillion economy.
He said this entail an investment of over Rs.200,000 crore investment in roads and railway, and air links for Tier II and III cities by end-fiscal, achieve 100 percent rural electrification by May 2018 and increase the rural tele-density to 100 percent by 2020.
Based on the prime minister’s directive, eight secretaries undertook the task in December 2015.
“These eight groups had officers from different ministries. Further, there were also 16 groups of joint secretaries who worked on their focus areas. We cut across silos so that we can act on the eight themes — and act as agents of change,” Kant said.
The task, he added, was to shift from the ideation stage to implementation on the eight themes with apple linkages with sustainable development goals for growth with equity and employment generation and poverty reduction as focus points.