Country Poised To Become A $5Tn Economy

PM Modi asked states to set ambitious growth targets for their economies, saying the world expected India to become a $5 trillion economy even as he emphasised on the need to reach welfare schemes to the last beneficiary.

The PM’s exhortation at the meeting of the Niti Aayog governing council came even as he yet again touched on the need for simultaneous elections to states and Lok Sabha, as this would save costs and provide a break from a cycle of elections that takes away from governance due to long periods of the code of conduct, which restricts decision making, being in force. The PM advised states to pay special attention to attracting export-oriented investments while organising investment summits.

Aayog vice-chairman Rajiv Kumar said there was a consensus that the 2011 census would remain the key benchmark for devolution of funds. This was significant in the light of concerns expressed by southern states that their better population control would disadvantage them. It was pointed out that meeting such goals would be given due weightage.

The PM urged CMs that on the lines of the 115 aspirational districts identified by Niti Aayog, states could define their own parameters to identify 20% of the states’ blocks as aspirational (backward) blocks.

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