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Home Economy

Challenging but achievable US$5trn economy by 2024

Fiinews by Fiinews
June 16, 2019
in Economy, Exports, Industry Sectors, Investment, Projects
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PM sees immense potential of exports

 

PIB.
Prime Minister, Narendra Modi chairing the fifth meeting of the Governing Council of NITI Aayog, in New Delhi on 15 June 2019.

Prime Minister Narendra Modi has acknowledged the challenge in the goal to make India a US$5 trillion economy by 2024 but has assured that it can be achieved.

He has called on the States to recognise their core competence, and work towards raising GDP targets right from the district level.

He delivered the opening remarks at the fifth meeting of the Governing Council of NITI Aayog in New Delhi on 15 June 2019.

Noting that the export sector is an important element in the progress of developing countries, he said both the Centre and the States should work towards growth in exports, in order to raise per capita incomes.

Modi pointed out that immense untapped export potential in several States, including the North Eastern States.

He said a thrust on export promotion at the State level will provide a boost to both income and employment.

Describing water as an important element for life, the Prime Minister said that the poor bear the brunt of insufficient water conservation efforts.

He said that the newly created Jal Shakti Ministry will help provide an integrated approach to water and urged the States to also integrate their efforts towards water conservation and management.

Modi said management of available water resources is a vital imperative.

The Prime Minister said the aim is to provide piped water to every rural home by 2024 and called for attention to be given to water conservation and raising the water table.

He appreciated the efforts made by several States towards water conservation and management.

He said rules and regulations, such as model building byelaws, also need to be framed for water conservation and management.

He added that district irrigation plans under the the PM KrishiSinchaiYojana should be implemented carefully.

The Prime Minister called for effective steps to tackle drought, calling for promotion of the spirit of per-drop, more-crop.

Reiterating the Union Government’s commitment to double incomes of farmers by 2022, he said this requires focus on fisheries, animal husbandry, horticulture, fruits and vegetables.

He said that the benefits of PM-KISAN, KisanSammanNidhi, and other farmer centric schemes should reach the intended beneficiaries well within time.

Noting that there is need for structural reform in agriculture, the Prime Minister spoke of the need to boost corporate investment, strengthen logistics, and provide ample market support.

He said the food processing sector should grow at a faster pace than foodgrain production.

Turning to aspirational districts, the Prime Minister said that the focus should be on good governance. He said improvement in governance has led to remarkable progress in several aspirational districts.

The Prime Minister said “We are now moving towards a governance system characterized by Performance, Transparency and Delivery.”

He said proper implementation of schemes and decisions is vital.

He called upon all members of the Governing Council of NITI Aayog to help create a government setup which works and has the trust of the people. Fiinews.com

Tags: Niti AayogThe Prime Minister
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Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

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