Driving India's Growth: Beyond Conventional Metrics

A parliamentary panel has called for raising India's investment rate to 35% of the GDP to meet the ambitious growth target of 8%. The Standing Committee on Finance urged the government to focus on sustainable energy policies that balance affordability, efficiency, and climate commitments with economic objectives.

Chaired by BJP leader Bhartruhari Mahtab, the committee recommended swift development of pumped storage projects to enhance energy security and reduce import reliance. They highlighted a collaborative deregulation approach to boost domestic-led growth by streamlining business processes and fostering an investor-friendly environment.

On agriculture, the panel emphasized India's vast potential as a growth driver, suggesting immediate and long-term reforms. Initiatives include digitalizing land records and fostering agri-tech innovation to mitigate inflation and boost farmers' incomes. Additionally, the committee underscored leveraging global trade conditions to promote 'Atmanirbhar Bharat'.

(With inputs from agencies.)