Results for: NITI Aayog

Prime Minister Narendra Modi has emphasized the crucial role of states in driving their own development, asserting that India’s goal of becoming a developed nation depends significantly on the progress of its individual states. He urged states to create their own vision documents, noting that a developed nation is essentially an aggregation of developed states. Modi also highlighted the importance of law and order, good governance, and infrastructure as critical factors for attracting investments.

This news roundup covers key business updates, including the financial performance of ICICI Bank, Dr Reddy’s Laboratories, and IDFC First Bank for the first quarter of the current financial year. It also highlights a controversy surrounding West Bengal Chief Minister Mamata Banerjee’s walkout from a NITI Aayog meeting.

The 9th Governing Council Meeting of NITI Aayog saw controversy erupt as West Bengal Chief Minister Mamata Banerjee walked out, alleging her microphone was cut off after five minutes. Prime Minister Modi, chairing the meeting, emphasized the importance of states in achieving the ‘Viksit Bharat @ 2047’ vision. Several states, including those led by INDIA bloc parties, boycotted the meeting, highlighting the political divide.

West Bengal Chief Minister Mamata Banerjee walked out of a meeting led by Prime Minister Narendra Modi, claiming she was unfairly stopped during her speech. NITI Aayog CEO BVR Subrahmanyam clarified the incident, stating that Banerjee was given an early time slot at her request and that a timer on the screen indicated the remaining time for each speaker.

West Bengal Chief Minister Mamata Banerjee’s claim that her microphone was switched off during the NITI Aayog meeting was refuted by the government, with Finance Minister Nirmala Sitharaman stating that her allotted speaking time had simply expired. Banerjee’s accusation sparked a controversy, with other Chief Ministers, including M.K. Stalin, expressing their support for her and criticizing the alleged treatment.

Prime Minister Narendra Modi will chair the 9th NITI Aayog Governing Council meeting today, focusing on making India a developed nation by 2047. Meanwhile, the DMK will hold protests in Tamil Nadu against the Union Government for alleged neglect in the 2024 budget. The India-Sri Lanka cricket series commences with a 3-match T20 and ODI series, featuring a new captain in Suryakumar Yadav for the T20 leg. Mumbai continues to experience heavy rainfall, with the IMD issuing a yellow alert for the city and surrounding areas.

The NITI Aayog has recommended fiscal incentives and import tariff reduction for electronic components to propel the domestic electronics industry to a $500 billion market by 2030. The plan aims to achieve a $350 billion finished goods production target and another $150 billion in component making, creating millions of jobs and boosting domestic value addition.

India’s G20 Sherpa and former NITI Aayog CEO, Amitabh Kant, has clarified India’s classification as a developing nation despite being among the top five economies globally. He explained that a developing country is one with a Gross National Income per capita of $11,905 or less, and countries like China, Brazil, and Malaysia also fall under this category.