Country’s macroeconomic policy think tank- the NITI Ayog has finally come out with a daft policy proposal in the form a three-year action agenda for the economy. The draft agenda seems to be a very diluted copycat of the erstwhile Planning Commission’s Five year plans.
The agenda includes general themes like doubling farmer’s income by 2022, expanding tax base, shifting additional revenues to the priority sectors, creation of employment, bringing down land prices etc.
The agenda was unveiled at a press meeting chaired by NITI’s Vice Chairman Arvind Panagaria. According to institution, the action agenda will be implemented by executive decisions. Needed legislations will be made to realize it. Intuitional changes aiming at a 15-year vision will be incorporated besides the three-year agenda.
The NITI Ayog, formed nearly two years ago, has not bought out any matching and notable nationwide macroeconomic policy agenda so far. A mercurial function of the dismantled Planning Commission was providing intellectual wok in the form of policy documents about future economic programmes.
Though Planning has been shut down the responsibility of preparing blue prints -especially the long-term ones has not been done by any institution. The NITI was supposed to do that, but provided only few sector specific policy papers so far.
NITI’s website puts this functionality in these word – “To design strategic and long term policy and programme frameworks and initiatives, and monitor their progress and their efficacy.”
The newly launched policy agenda has mostly general guidelines that are already specified by different Ministries and bodies. A fresh element is the suggestion of incorporating agricultural income under the tax net.
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