The Union finance ministry will deliberate with state finance ministers and finance secretaries today and tomorrow (September 18-19) on financing strategies and policy priorities for India’s development journey towards a “Viksit Bharat”.
The two-day conference, titled “Financing India’s Journey towards Viksit Bharat,” will focus on areas where the Centre and States can collaborate to address financing challenges and support long-term economic growth. Finance Minister Nirmala Sitharaman will attend the conference, which is also expected to draw several chief Ministers, state finance ministers and senior state officials, the finance ministry said.
The discussions will centre on three broad themes — macroeconomic developments, financing agricultural transformation and financing the energy transition.
Economic affairs secretary Anuradha Thakur will outline the conference objectives. The keynote address will be delivered by N.K. Singh, President and Life Trustee of the Institute of Economic Growth and Chairman of the 15th Finance Commission. Sudhir Shrivastava, former Additional Chief Secretary and Finance Secretary of Maharashtra, will present the State perspective on financing the country’s development ambitions.
The conference aims to provide a platform for discussing policy complementarities between the Centre and States, bringing together academic research and practical policy considerations. The deliberations will examine the financing requirements associated with India’s medium- and long-term development priorities.
The macroeconomic session will look at India’s growth milestones and possible pathways towards achieving the Viksit Bharat objective. It will also examine the role of private financing and the implications of GST 2.0 for States.
The agricultural session will focus on financing agricultural markets and marketing, as well as ways to finance resilience and sustainable resource use in the sector.
The third session will examine financing requirements for the energy transition, including renewable energy and transmission infrastructure. Financing carbon capture, utilisation and storage will also form part of the discussions.
The deliberations will cover issues ranging from macroeconomic pathways and private financing to agricultural finance, renewable energy infrastructure and emerging technologies for carbon management.
The conference will also hear from senior officials on the broader requirements for India’s development journey. Statistics and Programme Implementation secretary Saurabh Garg will speak on the importance of measuring growth outcomes, while IT secretary S. Krishnan will highlight the role of new-age technology in strengthening governance.