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