Competitiveness index to rank the State on their overall resourcefulness in attracting investment. It helps the States for their development. Federal policy thinktank NITI Aayog will develop a state competitiveness index. It will go beyond the ease of getting approval and licenses.Â
This work is going on to encourage the states for competitiveness so that each state work on their development. This index is made for the State to give a thought to the growth of their State. It will help them for development in the future.
This built a sense of competitiveness in States to make a growth of their states in their ways. It does not make a negative impact on the State if any State is developing and another state is not. This will help the State make a count of work that is still needed to complete.
Development by Niti Aayog for State
It allows the State to manage the time and the work of the State for the promised development. This index develops a sense of state development in the officials responsible for the State. Â
It helps the states to achieve their goal in a very well-mannered and organized way. And it gives ideas of ways to organize and manage the work and the time for work.
The index will accelerate economic growth and help achieve the $5 trillion economy goal. These are the words of a person familiar with the development. He said it was in the spirit of competitive federalism. The idea is to pit the State against each other to make them competitive for each other.Â
The board is on an idea to capture a comprehensive picture of the State’s socioeconomic position and incremental progress annually. Details of the new index are yet needed to draw. The index will need a lot of work to make a thought. This would go beyond the indicators of ease of doing business.Â
NITI Aayog already has a few indices. The indices include a sustainable development goal index. an innovation index, and an export preparedness index that ranks states. The ranks are policy tools for central ministries and states in designing schemes budgets. And assessing the outcomes of existing schemes.
The ranking and annual changes also enable the State, including the front runners in specific indicators, to learn from others.Â
The states have for far too long used land. The states also have the tax benefits to attract investments. With the introduction of GST, very few States can offer sustainable state GST benefits to attract investment.
Published By: Khushboo Mehta
Edited By: Kritika Kashyap
