NITI Aayog proposes higher social discount rate for project appraisal

NITI Aayog's working paper suggests increasing the social discount rate to 9.23% for project appraisal up to 30 years. This proposal aims to redefine economic viability for a variety of public investment projects in India. The revision has implications for ministries involved in long-term ventures such as infrastructure and energy. The paper also recommends specific rates for projects extending beyond 30 years.