NITI Aayog CEO BVR Subrahmanyam has said that the state government needs to create an economic master plan and focus on urban planning in order for Mumbai and the Mumbai Metropolitan Region (MMR) to sustain India's goal of becoming a $30 trillion economy by 2047. Subrahmanyam emphasized the importance of public housing, land management, and transport infrastructure in achieving this goal. NITI Aayog will prepare a draft master plan to raise the region's GDP from $140 billion to $300 billion. Other participants in the discussion also stressed the need for job creation and economic growth through urban planning.
The state government would need to draw up a long-term economic plan for Mumbai and Mumbai Metropolitan Region (MMR) followed by urban planning if they were to sustain India’s goal of a 30 trillion-dollar economy by 2047, NITI Aayog CEO BVR Subrahmanyam said on Tuesday.1
He was speaking at an urban transformation summit conducted by Mumbai Metropolitan Region Development Authority. His remarks assume significance as Niti Aayog recently had a meeting with the state government regarding an economic plan for MMR. Accordingly, NITI Aayog will prepare a draft master plan for the region to raise its GDP from 140 billion dollars to 300 billion dollars, people aware of the development said.
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- 1. “Until now the focus was on urban planning and growth was considered an automatic factor. Henceforth, it should not be like that. India will grow to a 30 trillion-dollar economy by 2047 from the current three trillion-dollar economy. If Mumbai and MMR need to sustain this, they need an economic master plan and urban planning should follow the goals in the plan. Public housing and land management along with transport infrastructure would play an important role in it,” Subrahmanyam said.