For the period 2021–2026, the Next Generation EU (NGEU) represents the main instrument to support the ecological and economic transition of the Member States toward new development models. In the framework of the European planning tools—the Recovery and Resilience Facility (RRF) and European Commission by the technical guidance have defined of objectives, principles, and constraints for the elaboration of national plans. Because of the NGEU and consistently with the RRF, in July 2021, the National Recovery and Resilience Plan (NRRP) was approved by the Council of Ministers, which provides for an articulated set of reforms and investments that in the coming years will affect the areas of digitization, innovation, competitiveness, culture and tourism. The investments of the NRRP foresee significant resources for the implementation of programs as well as interventions. However, with respect to the European planning framework, the Italian context has to deal with the structural weaknesses of the existing models and procedures for the plan. The purpose of this chapter is a detailed analysis, to highlight Italy’s strengths and weaknesses relating to strategies for innovation and economic, social, and environmental transition as well as evaluate the potential to be developed through the new season launched by the NRRP. The analysis of the microeconomic and macroeconomic impacts shows how Italy is reacting to the changes required by the 2030 Agenda and what, in broad terms, the internal economic dynamics are and the related difficulties in producing new innovative and technological outlets.