Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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-The Hindu Business Line&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The NITI Aayog&amp;rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy &amp;mdash; with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and &amp;ldquo;significantly higher resource mobilisation&amp;rdquo;. To this end, it relies on &amp;ldquo;demonetisation and GST&amp;rdquo; to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to &amp;ldquo;minimise volatility in the nominal exchange rate&amp;rdquo; have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited.&lt;br /&gt;
&lt;br /&gt;
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NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap

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&lt;em&gt;NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap&lt;br /&gt;
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-The Hindu Business Line

NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap

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-The Hindu Business Line

NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap

The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an..."/>
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                <strong>Statement of intentions</strong></h1>
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                <div align="justify">-The Hindu Business Line<br /><br /><em>NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap<br /></em><br />The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy &mdash; with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and &ldquo;significantly higher resource mobilisation&rdquo;. To this end, it relies on &ldquo;demonetisation and GST&rdquo; to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to &ldquo;minimise volatility in the nominal exchange rate&rdquo; have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited.<br /><br />The report identifies 41 key areas, placed under four categories: drivers, infrastructure, inclusion and governance. The Modi government&rsquo;s focus on improving waterways, and on digitisation as a means to enhance financial inclusion is reiterated. Emphasis has been laid on improving farm incomes, no doubt to address recent misgivings.<br /><br />Please <a href="https://www.thehindubusinessline.com/opinion/editorial/niti-aayogs-document-sets-out-economic-goals-but-theres-no-roadmap/article25790951.ece?homepage=true&amp;fbclid=IwAR3_iZz6w_fcXAx2aVYJuJPcgvGoMAF6Mx_g68toUSYH9LgXVox_BouaHdU" title="https://www.thehindubusinessline.com/opinion/editorial/niti-aayogs-document-sets-out-economic-goals-but-theres-no-roadmap/article25790951.ece?homepage=true&amp;fbclid=IwAR3_iZz6w_fcXAx2aVYJuJPcgvGoMAF6Mx_g68toUSYH9LgXVox_BouaHdU">click here</a> to read more. <br /></div>               </font>
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-The Hindu Business Line&lt;br /&gt;
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&lt;em&gt;NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap&lt;br /&gt;
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The NITI Aayog&amp;rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy &amp;mdash; with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and &amp;ldquo;significantly higher resource mobilisation&amp;rdquo;. To this end, it relies on &amp;ldquo;demonetisation and GST&amp;rdquo; to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to &amp;ldquo;minimise volatility in the nominal exchange rate&amp;rdquo; have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited.&lt;br /&gt;
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NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap

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NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap

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-The Hindu Business Line

NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap

The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an..."/>
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                <strong>Statement of intentions</strong></h1>
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                <div align="justify">-The Hindu Business Line<br /><br /><em>NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap<br /></em><br />The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy &mdash; with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and &ldquo;significantly higher resource mobilisation&rdquo;. To this end, it relies on &ldquo;demonetisation and GST&rdquo; to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to &ldquo;minimise volatility in the nominal exchange rate&rdquo; have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited.<br /><br />The report identifies 41 key areas, placed under four categories: drivers, infrastructure, inclusion and governance. The Modi government&rsquo;s focus on improving waterways, and on digitisation as a means to enhance financial inclusion is reiterated. Emphasis has been laid on improving farm incomes, no doubt to address recent misgivings.<br /><br />Please <a href="https://www.thehindubusinessline.com/opinion/editorial/niti-aayogs-document-sets-out-economic-goals-but-theres-no-roadmap/article25790951.ece?homepage=true&amp;fbclid=IwAR3_iZz6w_fcXAx2aVYJuJPcgvGoMAF6Mx_g68toUSYH9LgXVox_BouaHdU" title="https://www.thehindubusinessline.com/opinion/editorial/niti-aayogs-document-sets-out-economic-goals-but-theres-no-roadmap/article25790951.ece?homepage=true&amp;fbclid=IwAR3_iZz6w_fcXAx2aVYJuJPcgvGoMAF6Mx_g68toUSYH9LgXVox_BouaHdU">click here</a> to read more. <br /></div>               </font>
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-The Hindu Business Line&lt;br /&gt;
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&lt;em&gt;NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The NITI Aayog&amp;rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy &amp;mdash; with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and &amp;ldquo;significantly higher resource mobilisation&amp;rdquo;. To this end, it relies on &amp;ldquo;demonetisation and GST&amp;rdquo; to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to &amp;ldquo;minimise volatility in the nominal exchange rate&amp;rdquo; have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited.&lt;br /&gt;
&lt;br /&gt;
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-The Hindu Business Line

NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap

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&lt;br /&gt;
&lt;em&gt;NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap&lt;br /&gt;
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-The Hindu Business Line

NITI Aayog&amp;rsquo;s document sets out economic goals, but there&amp;rsquo;s no roadmap

The NITI Aayog&amp;rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an...&#039;
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-The Hindu Business Line

NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap

The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an..."/>
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                <strong>Statement of intentions</strong></h1>
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                <div align="justify">-The Hindu Business Line<br /><br /><em>NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap<br /></em><br />The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy &mdash; with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and &ldquo;significantly higher resource mobilisation&rdquo;. To this end, it relies on &ldquo;demonetisation and GST&rdquo; to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to &ldquo;minimise volatility in the nominal exchange rate&rdquo; have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited.<br /><br />The report identifies 41 key areas, placed under four categories: drivers, infrastructure, inclusion and governance. The Modi government&rsquo;s focus on improving waterways, and on digitisation as a means to enhance financial inclusion is reiterated. Emphasis has been laid on improving farm incomes, no doubt to address recent misgivings.<br /><br />Please <a href="https://www.thehindubusinessline.com/opinion/editorial/niti-aayogs-document-sets-out-economic-goals-but-theres-no-roadmap/article25790951.ece?homepage=true&amp;fbclid=IwAR3_iZz6w_fcXAx2aVYJuJPcgvGoMAF6Mx_g68toUSYH9LgXVox_BouaHdU" title="https://www.thehindubusinessline.com/opinion/editorial/niti-aayogs-document-sets-out-economic-goals-but-theres-no-roadmap/article25790951.ece?homepage=true&amp;fbclid=IwAR3_iZz6w_fcXAx2aVYJuJPcgvGoMAF6Mx_g68toUSYH9LgXVox_BouaHdU">click here</a> to read more. <br /></div>               </font>
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-The Hindu Business Line<br />
<br />
<em>NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap<br />
</em><br />
The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy &mdash; with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and &ldquo;significantly higher resource mobilisation&rdquo;. To this end, it relies on &ldquo;demonetisation and GST&rdquo; to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to &ldquo;minimise volatility in the nominal exchange rate&rdquo; have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited.<br />
<br />
The report identifies 41 key areas, placed under four categories: drivers, infrastructure, inclusion and governance. The Modi government&rsquo;s focus on improving waterways, and on digitisation as a means to enhance financial inclusion is reiterated. Emphasis has been laid on improving farm incomes, no doubt to address recent misgivings.<br />
<br />
Please <a href="https://www.thehindubusinessline.com/opinion/editorial/niti-aayogs-document-sets-out-economic-goals-but-theres-no-roadmap/article25790951.ece?homepage=true&amp;fbclid=IwAR3_iZz6w_fcXAx2aVYJuJPcgvGoMAF6Mx_g68toUSYH9LgXVox_BouaHdU">click here</a> to read more. <br />
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-The Hindu Business Line

NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap

The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an...',
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-The Hindu Business Line<br />
<br />
<em>NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap<br />
</em><br />
The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy &mdash; with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and &ldquo;significantly higher resource mobilisation&rdquo;. To this end, it relies on &ldquo;demonetisation and GST&rdquo; to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to &ldquo;minimise volatility in the nominal exchange rate&rdquo; have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited.<br />
<br />
The report identifies 41 key areas, placed under four categories: drivers, infrastructure, inclusion and governance. The Modi government&rsquo;s focus on improving waterways, and on digitisation as a means to enhance financial inclusion is reiterated. Emphasis has been laid on improving farm incomes, no doubt to address recent misgivings.<br />
<br />
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NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap

The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an...'
$disp = '<div align="justify">-The Hindu Business Line<br /><br /><em>NITI Aayog&rsquo;s document sets out economic goals, but there&rsquo;s no roadmap<br /></em><br />The NITI Aayog&rsquo;s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy &mdash; with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and &ldquo;significantly higher resource mobilisation&rdquo;. To this end, it relies on &ldquo;demonetisation and GST&rdquo; to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to &ldquo;minimise volatility in the nominal exchange rate&rdquo; have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited.<br /><br />The report identifies 41 key areas, placed under four categories: drivers, infrastructure, inclusion and governance. The Modi government&rsquo;s focus on improving waterways, and on digitisation as a means to enhance financial inclusion is reiterated. Emphasis has been laid on improving farm incomes, no doubt to address recent misgivings.<br /><br />Please <a href="https://www.thehindubusinessline.com/opinion/editorial/niti-aayogs-document-sets-out-economic-goals-but-theres-no-roadmap/article25790951.ece?homepage=true&amp;fbclid=IwAR3_iZz6w_fcXAx2aVYJuJPcgvGoMAF6Mx_g68toUSYH9LgXVox_BouaHdU" title="https://www.thehindubusinessline.com/opinion/editorial/niti-aayogs-document-sets-out-economic-goals-but-theres-no-roadmap/article25790951.ece?homepage=true&amp;fbclid=IwAR3_iZz6w_fcXAx2aVYJuJPcgvGoMAF6Mx_g68toUSYH9LgXVox_BouaHdU">click here</a> to read more. <br /></div>'
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Statement of intentions

-The Hindu Business Line NITI Aayog’s document sets out economic goals, but there’s no roadmap The NITI Aayog’s Strategy for New India @75 lays out a checklist of priorities for economic policy-makers over the next three years. It sets out as an immediate priority, the ramping up of the investment rate to 36 per cent of the GDP by 2022, from 29 per cent at present in order to hit a growth rate of 9 per cent. An improved incremental capital-output ratio implies a generally high level of efficiency in project execution. The report implicitly lays store by technology to raise efficiency, but it is not clear whether smart technologies alone can act as a magic bullet. It recognises that, given the tepid state of private investment in a scenario of high NPAs, the government will have act as the engine of the economy — with public investment rising from 4 per cent of GDP at present to 7 per cent. This, in turn, would call for government savings moving into positive territory and “significantly higher resource mobilisation”. To this end, it relies on “demonetisation and GST” to improve tax compliance, in addition to rationalising corporate and personal income taxes. Revenue collections, however, do not bear out this optimism. It is instructive that a flexible approach to the fiscal deficit as well as a policy to “minimise volatility in the nominal exchange rate” have been recommended. The new incumbent at Mint Road would perhaps be required to reconcile inflation targeting with keeping interest rates low, while using reserves to check currency volatility. A push to disinvestment has been promised as well in order to release resources. A focus on capital expenditure is welcome, provided it is implemented; housing and physical infrastructure have been identified as potential areas that can absorb investment. However, the debate on whether certain social sector expenditures need to be capitalised for their long-term worth, needs to be revisited. The report identifies 41 key areas, placed under four categories: drivers, infrastructure, inclusion and governance. The Modi government’s focus on improving waterways, and on digitisation as a means to enhance financial inclusion is reiterated. Emphasis has been laid on improving farm incomes, no doubt to address recent misgivings. Please click here to read more.