Vision India @2047 Important Points

Vision India @2047:

In the year 2047, India will complete 100 years of Independence. 

NITI Aayog has prepared Vision India @2047, it is in the final stage. It will be implemented across all sectors to achieve it.

At present India holds 3.5 % of the global economic output ( it was 1.1 % in 1991) and fifth largest economy after the USA, China, Japan, and Germany. 

The objective/Promise of Vision India @2047:

• It is the road map to make India a developed country.
• It aims to become self-reliant in the defense and space sectors.
• It aims to make India a $ 30  trillion economy by 2047.
• It aspires to become a high-income country [ per capita income $18000 to 20,000]
• It aims to become a green economy by increasing renewable energy and reducing carbon emissions. 

Our strength:

Demographic dividend: We are 1.4 billion people with approximately 40 % population under 25 age.

We have a huge market with huge Middle-class people.

The fast growth of the digital economy

The way to achieve it:

The main role of the government would be an enabler rather than a micro-manager.

To ensure that India would not slip into a middle-income trap, the action plan and goals would be divided into two stages - 2030 and 2047 for reviews and feedback.

Major challenges:

On average nine (9)  % annual growth rate will be required to achieve it.

We can not achieve it without strengthening the manufacturing sector. A structural shift from agriculture to manufacturing will be a challenging task.