NITI Aayog’s Governing Council to discuss Developed India Plan or ‘Viksit Bharat@47’

May 25, 2023
Posted by: OptimizeIAS Team
Category: DPN Topics

NITI Aayog’s Governing Council to discuss Developed India Plan or ‘Viksit Bharat@47’

Subject : Economy

Section: National Income

Key Points:

Thrust on Micro, Small and Medium Enterprises (MSME) for growth and job creation in next 25 years.
Cooperative Federalism to help achieve the goal
Common online platform for all schemes, to reduce virtual clutter.
To develop a robust online dispute resolution system.
Strengthen Annual Credit Plan for better fiscal management.
Implementation of strategic investment plan developed under ‘Raising and accelerating MSME performance’ (Rs. 6,000 crore budgeted last year)

Raising and accelerating MSME performance (RAMP) is a World Bank assisted Central Sector Scheme, supporting various COVID-19 Resilience and Recovery interventions of the Ministry of MSME.

The programme aims at improving access to market and credit, strengthening institutions and governance at the Centre and State, improving Centre-State linkages and partnerships, addressing issues of delayed payments and greening of MSMEs. Funds would flow through RAMP into the Ministry’s budget against Disbursement Linked Indicators (DLIs) to support ongoing MoMSME programmes, focusing on improving market access and competitiveness.

Developed Country: what are the requirements/characteristics:

High per capita GDP: At around $2300 India presently qualifies as a Lower Middle income country.
Favorable Human Development Index: India presently ranks at 132nd position in HDI.
Greater share of tertiary and secondary sectors
Good infrastructure
Innovation

World Bank Classification of Countries based on per capita Income:

Low Income	<1,085
Lower Middle Income	1,086-4,255
Upper-Middle Income	4,256-13,205
High Income	>13,205