BVR Subrahmanyam, CEO of NITI Aayog, stated on Wednesday that a vision document is being written for India to become a developed economy with a GDP of over USD 30 trillion by 2047.
The draft paper titled ‘Vision India @2047’ would explain the institutional and structural changes/reforms that will be required for India to become a developed nation by 2047.
“A vision plan is being prepared for India to become a developed economy…the prime minister will release the document in January,” Subrahmanyam said at a FICCI event.
In 2023, NITI Aayog was tasked with combining the ten sectoral theme ideas into a one vision for Viksit Bharat @2047.
According to Subrahmanyam, the government wants the college enrollment rate in India to rise from 27% to 50-60%.
“So, the college going population would go up from 4 crore to 8- 9 crore. So we need thousand more universities, in addition to thousand universities we have today,” he said.
Subrahmanyam emphasized that due to governmental economic constraints, financing for the establishment of new institutions will have to come from the private sector.
He stated that education towns such as Boston and San Francisco are needed to foster R&D and innovation.
Observing that the median age of half of India’s population is below 29 years, the NITI Aayog CEO said,” We have a window of 25 years to exploit the demographic potential of India.” While noting that India is going to be the provider of largest workforce in the world, Subrahmanyam said every year, 13 lakh Indian students go out of India to complete their higher education.
He emphasized that steps should be taken to attract more and more students to India.
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Source: BS
