Politics
Viksit Bharat is possible thanks to a fundamental change in mindset: PM Modi
Prominent economists on Tuesday urged the government to take steps to improve agricultural productivity and job creation, among others. They were having an interaction with Prime Minister Narendra Modi as part of a pre-budget consultation.
The meeting was held under the theme Sustaining India's Growth Momentum at a Time of Global Uncertainty. In his speech, the Prime Minister highlighted that Viksit Bharat can be achieved through a fundamental change in mindset, focused on India's development by 2047, according to a statement issued by the Prime Minister's Office.
The meeting took place at a time of growing apprehensions about India's economic growth after growth slowed in the second quarter to 5.4 percent, the lowest in seven quarters. At the same time, the geopolitical situation has become darker, posing a new challenge to Finance Minister Nirmala Sitharaman, who is preparing to present her 8th Successive budget on February 1.
During the meeting, participants shared their views on several issues, including addressing the challenges posed by global economic uncertainties and geopolitical tensions, strategies to improve employment, particularly among youth, and creating sustainable employment opportunities in all sectors.
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Also read: The Viksit Bharat goal offers a host of opportunities for investment collaboration and participation of global investors: FM Sitharaman
Suggestions were also made regarding aligning education and training programs with changing labor market needs, improving agricultural productivity and creating sustainable rural employment opportunities, attracting private investment and the mobilization of public funds for infrastructure projects aimed at stimulating economic growth. Suggestions were also made to promote financial inclusion, boost exports and attract foreign investment, the statement said.
According to some sources, the interactions extended beyond the immediate fiscal year, focusing instead on a broader long-term growth vision. In his third term, Modi wants to implement measures that would enable India to become a Viksit Bharat (developed nation).
Economists and experts present included Ridham Desai of Morgan Stanley, agricultural economist Ashok Gulati, former IMF executive director Surjit Bhalla and DK Joshi of Crisil. The closed-door meeting was held at Niti Aayog and was attended by Finance Minister Nirmala Sitharaman, Union Minister for Statistics and Program Implementation, Principal Secretary to the Prime Minister PK Mishra, Vice -NITI Aayog Chairman Suman Bery and Niti Aayog CEO BVR Subrahmanyam. .
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