Union Finance Minister Nirmala Sitharaman outlined the government’s vision of ‘Viksit Bharat by 2047’ during the interim Budget 2024 presentation on February 1 and a comprehensive roadmap for achieving ‘Viksit Bharat’ – or developed India – will be unveiled in the full budget scheduled on July 23.
Earlier in February, she had highlighted that India has overcome challenges from the pre-2014 era through effective economic management and governance, which have steered the country towards sustained high growth. She attributed this success to the government’s sound policies, genuine intentions, and timely decisions.
What is ‘Viksit Bharat @ 2047’
‘Viksit Bharat,’ which translates to ‘developed India,’ aims to achieve a prosperous nation in harmony with nature, boasting modern infrastructure and providing opportunities for all citizens and regions to reach their full potential by 2047 – marking India’s 100 years of independence.
Sitharaman emphasised the government’s commitment for ensuring social justice through an inclusive development approach that covers all sections of society, regardless of caste or background.
She highlighted the importance of empowering marginalized groups such as the poor, women, youth, and farmers – known as the “four major castes” according to Prime Minister Narendra Modi’s framework.
“Our government is working with an approach to development that is all-round, all-pervasive and all-inclusive. It covers all castes and people at all levels. We are working to make India a ‘Viksit Bharat’ by 2047. For achieving that goal, we need to improve people’s capability and empower them,” she had said.
The Finance Minister had underscored the significance of ‘Sabka Prayas’ – or collective efforts – in realizing the aspirations of every Indian, reaffirming the government’s commitment to sustainable development and equitable growth as pillars of ‘Viksit Bharat.’
“Our vision for ‘Viksit Bharat’ is that of “Prosperous Bharat in harmony with nature, with modern infrastructure, and providing opportunities for all citizens and all regions to reach their potential”. With confidence arising from strong and exemplary track record of performance and progress earning ‘Sabka Vishwas’, the next five years will be years of unprecedented development, and golden moments to realize the dream of developed India @ 2047. The trinity of demography, democracy and diversity backed by ‘Sabka Prayas’ has the potential to fulfill aspirations of
every Indian,” she said.
Push for reforms
The Finance Minister, who is all set to create a record this time by presenting the Union Budget, had said that many growth and development-enabling reforms are needed in the states to realize the vision of ‘Viksit Bharat’.
“A provision of seventy-five thousand crore rupees as fifty-year interest-free loan is proposed this year to support those milestone-linked reforms by the State Governments.
The Government will form a high-powered committee for an extensive consideration of the challenges arising from fast population growth and demographic changes. The committee will be mandated to make recommendations for addressing these challenges comprehensively in relation to the goal of ‘Viksit Bharat’, she said.