Chief Minister Bhagwant Mann ON Tuesday unveiled a ‘Punjab ‘vision document 2047’ and described it as a roadmap for a progressive and prosperous state.
On this occasion, the CM underlined the urgent need to rejuvenate the economy and fiscal health of the state.This document envisages holistic development of the state when India completes its 100th year of Independence, he said.
Mann said this document consists of nine departmentalized sections and 16 socio-economic indicator-based sub-sections focusing on the current status, major challenges that the state is facing and envisages short-term and long-term strategies to overcome these challenges.
As per the document, a rate of growth of the economy at 7.5 per cent by 2030 and 10 per cent by 2047 will be achieved, said an official release quoting Mann.
The document also aims at bringing the investment-gross state domestic product (GSDP) ratio to 25 per cent by 2030 and restoring the investment-GSDP ratio of Punjab to 32 per cent by 2047 by improving the investment climate in the state and initiating the economic governance reforms for time-bound and hassle-free clearance of industrial projects.
Mann said the service sector like information technology-enabled services (ITES), including BPO, online education, social media and entertainment will be developed and application of digital technologies in the service sector will also be incentivized.
The generation of decent jobs by boosting investment in all sectors and building a synergy between industry and educational institutions to improve employability and startup ecosystems will also be ensured through this document, he added.
For improving the fiscal health of the economy, the suitable strategy is prudent fiscal management, he said adding, the targets and strategies for different identified sectors have been framed keeping in mind the requirements of the state.
-With PTI Input
