India can reach over 8% growth in 3 years: Niti Aayog

The government think tank has come out with a detailed plan for reforms in the economy, judiciary, regulatory structure and social sectors, in its ‘Three Year Action Agenda, 2017-18 to 2019-20’. 

“Indeed, there are good prospects that we will return to 8 per cent plus growth trajectory in another 2-3 years if not sooner. Therefore, the chances of massive cut in the poverty rate in the upcoming decade are excellent,” it said. India’s economic growth slowed to 7.1 per cent in 2016- 17. 

The Central Statistics Office (CSO) is scheduled to release the growth number for the April-June quarter of the current fiscal on August 31. The Action agenda proposes linking central government expenditure to future priorities, shifting additional allocations to high-priority sectors which are more likely to promote development. 

“The proposals imply substantial expansion in expenditures by 2019-20 on education, health, agriculture, rural development, defence, railways, roads and other categories of capital expenditure,” the agenda said. 

It suggested ways to facilitate urbanisation in the country and deal with key challenges like affordable housing, infrastructure development, public transport and promotion of Swachh Bharat. 

It also suggested host of actions to eliminate corruption and black money, and increase tax base besides recommending reforms in civil services and electoral process. 

The suggestions for reforming the judicial system revolve around streamlining human resource availability and performance, increasing and strengthening avenues for dispute resolution and extensive use of ICT to improve efficiency.