Making India $5 Trillion Economy By 2024 a 'Challenging but Achievable' Goal, Says PM Modi

New Delhi: Prime Minister Narendra Modi delivered the opening remarks at the fifth meeting of the Governing Council of NITI Aayog at the Rashtrapati Bhawan on Saturday.

"The NITI Aayog has a key role to play in fulfilling the mantra of 'Sabka saath, sabka vikas, sabka vishwas'," he said, adding that the goal was to make India a $5 trillion economy by 2024.

While the goal is challenging, it is achievable with the concerted efforts of the states, Modi said. All states should recognise their core competence and work towards raising Gross Domestic Product (GDP) targets right from the district level, he added.

Recalling the recent Lok Sabha elections as the world's largest democratic exercise, Modi said that it is now time for everyone to work for the development of India. He spoke of a collective fight against poverty, unemployment, drought, flood, pollution, corruption and violence.

Amid several parts of the country facing a drought-like situation, Modi called for effective steps to tackle it by adopting 'per-drop, more-crop' strategy. He said that the newly created Jal Shakti Ministry will help provide an integrated approach to water and states can also integrate various efforts towards water conservation and management.

Modi reiterated the Union Government's commitment to double the incomes of farmers by 2022. To achieve this, he said there should be a focus on fisheries, animal husbandry, horticulture, fruits and vegetables. He said that the benefits of PM-KISAN and other farmer-centric schemes should reach the intended beneficiaries well within time.

Noting there is a need for structural reform in agriculture, Modi spoke of the need to boost corporate investment, strengthen logistics, and provide ample market support. He said the food processing sector should grow at a faster pace than foodgrain production.

NITI Aayog Vice-Chairperson Rajiv Kumar said the body, since its inception in 2015, has been facilitating and competitive federalism and providing fresh ideas and policy inputs for both central and state governments.

This was the first governing council meeting under the new Modi government. Among others who attended were Union ministers Amit Shah, Nitin Gadkari, Nirmala Sitharaman and Rajnath Singh.

The council, the apex body of the Niti Aayog, includes all chief ministers, lieutenant governors of Union Territories, several Union ministers and senior government officials.

The meeting is being attended by all chief ministers, except West Bengal's Mamata Banerjee and Telangana's K Chandrashekhar Rao. Banerjee had earlier said that attending it would be "fruitless" as the Niti Aayog has no financial powers to support state plans. Rao did not come as he was busy with preparations for the launch of the ambitious Rs 80,000 crore Kaleshwaram lift irrigation project that would end water woes in the state.

Punjab Chief Minister Amarinder Singh, who could not attend due to health reasons, deputed his finance minister Manpreet Badal.

Modi said that everyone has a common goal of achieving a New India by 2022. He described Swachh Bharat Abhiyan and PM Awaas Yojana as illustrations of what the Centre and the states can accomplish together.

Modi also said that empowerment and ease of living have to be provided to each and every Indian. He said the goals that have been set for the 150th anniversary of Mahatma Gandhi, should be accomplished by October 2nd, and work should begin in the earnest towards the goals for 2022, the 75th anniversary of independence.

Stressing that the focus should be on collective responsibility for achieving short term and long term goals, Modi said the goal to make India a $5 trillion economy by 2024, is "challenging, but can surely be achieved". The size of India's economy was estimated at %2.75 trillion at the end of March.

Modi also stressed on increasing exports from the country.

Referring to the left-wing extremism, Modi said the battle against Naxal violence is now in a decisive phase. "Violence will be dealt with firmly, even as development proceeds in a fast-paced and balanced manner," he said.

On the health sector, Modi said that several targets have to keep in mind, to be achieved by 2022. He also mentioned the target of eliminating tuberculosis by 2025.

Modi urged those states who have not implemented PMJAY under Ayushman Bharat, so far, to come onboard at the earliest. He said health and wellness should be the focal point of every decision.

The Governing Council reviews the action taken on the agenda items of the previous meeting and deliberates upon the future developmental priorities.

The first meeting of the Governing Council was held on February 8, 2015, in which Modi had laid down the key mandates of the Niti Aayog, which included fostering cooperative federalism and addressing national issues through active participation of the states.

The second meeting on July 15, 2015, had reviewed the progress made by the three sub-groups of chief ministers and the two task forces.

In the third meeting on April 23, 2017, Modi had pitched for conducting simultaneous elections of the Lok Sabha and the state assemblies and shifting to a January-December fiscal year.

The fourth meeting on June 17 last year had deliberated upon the measures taken to double farmers' income and the progress of the government's flagship schemes.

(With inputs from PTI)