New Delhi
NITI Aayog today unveiled its much-awaited ‘Strategy for New India @75’ document with an aim to accelerate growth to 8-9% and make the country a $5-trillion economy by 2030.

Laying down a multi-pronged strategy to promote the country’s overall development, the document said the annual growth rate of 9% by 2022-23 would be essential for generating sufficient growth and achieving prosperity for all. Independent India will turn 75 on August 15, 2022.

Unveiling the much-awaited document, Finance Minister Arun Jaitley said, “Sound policy will always put economy on track in which it will get perpetually people out of poverty and give them better quality of life.” The development strategy includes doubling of farmers’ income, boosting ‘Make in India’, upgrading the science, technology and innovation ecosystem, and promoting sunrise sectors like fintech and tourism.

“Steadily accelerate the GDP growth rate to achieve a target of about 8% during 2018-23. This will raise the economy’s size in real terms from $2.7 trillion in 2017-18 to nearly $4 trillion by 2022-23.

“Besides having rapid growth, which reaches 9-10% by 2022-23, it is also necessary to ensure that growth is inclusive, sustained, clean and formalised,” the document said. The Indian economy grew at 6.7% in 2017-18. It also called for increasing the investment rate as measured by gross fixed capital formation from present 29% to 36% of GDP by 2022.