The Government of India has replaced Planning Commission with a new institution named NITI Aayog (National Institution for Transforming India). The primary aim of NITI Aayog is to achieve Sustainable Development Goals. The institutional framework of government has incredibly developed and evolved over the years. The evolvement of the framework has allowed the development of domain expertise paving a path to increase the specificity of functions given to institutions. NITI Aayog provides the Governments at the central and state levels with relevant strategic and technical advice across the spectrum of key elements of the policy. The article NITI Aayog Objectives for India 2022-2023 presents the plan for India in different sectors.
Steadily accelerate the gross domestic product (GDP) growth rate to achieve a target of about 8 percent during 2018-23 (note that this target has been set to catalyze policy action and does not represent a forecast). This will raise the economy’s size in real terms from USD 2.7 trillion in 2017-18 to nearly USD 4 trillion by 2022-23. Besides having rapid growth, which reaches 9-10 percent by 2022-23, it is also necessary to ensure that growth is inclusive, sustained, clean and formalized.
The investment rate should be raised from 29 percent to 36 percent of GDP which has been achieved in the past, by 2022-23.
Exports of goods and services combined should be increased from USD 478 billion in 2017-18 to USD 800 billion by 2022-23
Complete codification of central labour laws into four codes by 2019.
Increase female labor force participation to at least 30 percent by 2022-23.
Disseminate publicly available data, collected through rigorous household and enterprise surveys and innovative use of administrative data on a quarterly basis by 2022-23.
Encourage increased formalization of the labor force by reforming labor laws, easing of industrial relations and ensuring of fair wages, working conditions, and social security through significant productivity improvements in the economy.