Daily Current Affairs : 12-December-2023

NITI Aayog, India’s premier policy think tank, is currently in the final stages of consolidating inputs from sectoral groups to craft a comprehensive blueprint for ‘Viksit Bharat @2047.’

About Vision @2047:

NITI Aayog’s ‘Viksit Bharat @2047’ is a visionary initiative with the goal of propelling India into the league of developed economies, targeting a remarkable $30 trillion GDP by the year 2047. This ambitious project seeks to redefine India’s trajectory over the next 25 years.

Key Objectives:

The vision document outlines three fundamental objectives:

  1. Global Leadership in Innovation and Technology:
    • Foster an environment conducive to innovation.
    • Develop cutting-edge technologies to enhance global competitiveness.
  2. Model of Human Development and Social Welfare:
    • Prioritize human development through education and healthcare.
    • Establish a social welfare framework that ensures inclusive growth.
  3. Champion of Environmental Sustainability:
    • Implement sustainable practices across industries.
    • Address environmental challenges to foster a green and resilient future.
Anticipated Challenges:

The success of ‘Viksit Bharat @2047’ hinges on overcoming specific challenges that may emerge in the next quarter-century:

  1. Middle-Income Trap:
    • Potential stabilization of per capita income around $5,000-6,000.
    • Strategies to escape the middle-income trap and achieve higher prosperity.
  2. Economic Growth Slowdown:
    • Mitigate risks associated with economic slowdown.
    • Implement policies to sustain robust economic growth.
Comprehensive Development Approach:

The vision encompasses a holistic approach to development, addressing key pillars:

  1. Economic Growth:
    • Stimulate economic growth through strategic policies and investments.
  2. Social Progress:
    • Enhance social indicators by focusing on education and healthcare.
  3. Environmental Sustainability:
    • Integrate sustainable practices into development strategies.
  4. Good Governance:
    • Emphasize transparency, accountability, and efficient governance.
Important Points:

About Vision @2047:

  • Aims to make India a $30 trillion economy by 2047.
  • NITI Aayog initiative for a 25-year development blueprint.

Key Objectives:

  1. Global Leadership in Innovation and Technology:
    • Foster innovation and technology development.
    • Enhance global competitiveness.
  2. Model of Human Development and Social Welfare:
    • Prioritize education and healthcare.
    • Ensure inclusive growth through a social welfare framework.
  3. Champion of Environmental Sustainability:
    • Implement sustainable practices.
    • Address environmental challenges for a green future.

Anticipated Challenges:

  1. Middle-Income Trap:
    • Potential stabilization of per capita income.
    • Strategies to escape the middle-income trap.
  2. Economic Growth Slowdown:
    • Mitigate risks associated with economic slowdown.
    • Implement policies for sustained economic growth.

Comprehensive Development Approach:

  1. Economic Growth:
    • Stimulate economic growth through strategic policies.
  2. Social Progress:
    • Enhance social indicators, focusing on education and healthcare.
  3. Environmental Sustainability:
    • Integrate sustainable practices into development.
  4. Good Governance:
    • Emphasize transparency, accountability, and efficiency.
Why In News

NITI Aayog is in the final stages of harmonizing reports from secretaries of sectoral groups to prepare a comprehensive blueprint for ‘Viksit Bharat @2047,’ envisioning India’s development and progress over the next few decades. The collaborative effort aims to address diverse challenges and opportunities across various sectors, ensuring a robust plan for the nation’s growth and prosperity by 2047.

MCQs about Viksit Bharat @2047

  1. Which of the following is not one of the key objectives outlined in the vision document?
    A. Global Leadership in Innovation and Technology
    B. Model of Human Development and Social Welfare
    C. Dominance in Military Capabilities
    D. Champion of Environmental Sustainability
    Correct Answer: C. Dominance in Military Capabilities
    Explanation: The vision focuses on innovation, social welfare, and environmental sustainability, not military capabilities.
  2. What challenges does the vision anticipate in the next 25 years?
    A. Low population growth
    B. Middle-Income Trap and Economic Growth Slowdown
    C. Excessive technological advancement
    D. Overreliance on traditional industries
    Correct Answer: B. Middle-Income Trap and Economic Growth Slowdown
    Explanation: The vision anticipates challenges such as the middle-income trap and potential economic growth slowdown.
  3. What does ‘Viksit Bharat @2047’ emphasize under the Comprehensive Development Approach?
    A. Military expansion
    B. Technological isolation
    C. Holistic development pillars including Economic Growth, Social Progress, Environmental Sustainability, and Good Governance
    D. Political polarization
    Correct Answer: C. Holistic development pillars including Economic Growth, Social Progress, Environmental Sustainability, and Good Governance
    Explanation: The vision encompasses a comprehensive approach, addressing Economic Growth, Social Progress, Environmental Sustainability, and Good Governance.

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