The process of economic growth depends largely on the key growth sectors or high linkage sectors in the economy. The interlinkages of sectors are particularly important as policy impetus for the growth of a high linked sector can automatically impact the interlinked sectors through both forward and backward linkages and can improve the growth prospectus manifolds, writes Dr C Vanlalramsanga, Planning Secretary, Government of Mizoram.
New Economic Development Policy (NEDP) place identification of sectoral linkages as an essential component to formulate appropriate policies for boosting the key high linked sectors, as these in turn propel the growth in other sectors. The Government is devising appropriate policies through New Economic Development Policy (NEDP) based on the requirements of these key sectors besides encouraging investments in these sectors which, in turn, will ensure a long run sustainable growth of the overall economy.
Based on their linkages and other economic considerations including factor endowment and structural changes in the economy, the following sectors has been identified by NEDP as potential key growth drivers of the State economy:
a) Agricultural & Allied Sector: Rice, Vegetables (annual crops with high and consistent demand in local, national and international markets – onion, spices, squash etc), fruits (high value fruits with high and consistent demand in local, national and international markets – banana, orange, grape, passion fruits etc), floriculture (high value flowers with high and consistent demand in local, national and international markets – anthurium, orchid etc), animal husbandry, diary, fishery (with high and consistent demand in local market) b)
Industry-Manufacturing Sector: Forest based Industries (bamboo), handloom, handicrafts, agro based food processing
c) Infrastructure Development: Roads, Energy, Water Supply, ICT, Sanitation and Sewerage d) Services Sector: Tourism and Hospitality, Sports and Recreation, Education, Health Care, ICT, Transport Services The above identified potential key growth drivers of the State economy has been prioritised in proper sequence, and strategy for development and progress has been formulated in each key growth sectors with due regards to interlinkages among the sectors.
It is expected to provide maximum linkages in the economy for propelling and fueling economic growth and development in the State. Appropriate policy reforms for creating enabling environment have also been addressed under policy agenda of NEDP. The Government of Mizoram has invested Rs 250 crores in NEDP during the first year of implementation in 2016-17. And enhanced the investment to Rs 750 crores in the second year of implementation, and Rs 1,000 crores has been earmarked in BE 2018-19.