Focus on infra, investment, innovation to make India developed by 2047
ECONOMY & POLICY

Focus on infra, investment, innovation to make India developed by 2047

Infrastructure, investment, innovation and inclusiveness are the four key focus areas for the Narendra Modi government to make India a developed nation by 2047, Union Finance Minister Nirmala Sitharaman said. She made the remarks during an interaction with the students of the Wharton School of the University of Pennsylvania.

The minister arrived here afternoon to attend the annual meetings of the International Monetary Fund and the World Bank. She drove from New York to Washington DC with a stopover at the University of Pennsylvania.

"In the year when we will be celebrating 100 years of Independence from British rule, that is 2047, we want to be and we aspire to be a developed country," Sitharaman told the students.

To achieve that, the government has identified four key areas -- infrastructure, investment, innovation and inclusiveness, the finance minister said.

"The first is infrastructure, whether it is physical such as bridges and ports or digital which is critical for so many different purposes. The second would be to invest in it. In that comes the element of private investments. But more importantly, have public investment go in to kick-start the whole thing," she said.

Sitharaman said the third focus area is innovation and stressed the need for innovative solutions for the problems specific to India and its aspirations. "For many of the things that we want solutions for cannot be made somewhere and then brought here. The costs will go up and they may not be appropriate to the situation for which we want a solution. We want in-situ solutions for many of our problems. That itself becomes the challenge for innovations to work out," she said.

The most important is inclusiveness, Sitharaman said. "In everything that we do, we want to make sure that everybody gets included." She also said, "Affirmative action is given in the Constitution. You will have to uplift the poor, you will have to uplift the scheduled castes and scheduled tribes. It is a commitment given in the Constitution."

Infrastructure, investment, innovation and inclusiveness are the four key focus areas for the Narendra Modi government to make India a developed nation by 2047, Union Finance Minister Nirmala Sitharaman said. She made the remarks during an interaction with the students of the Wharton School of the University of Pennsylvania. The minister arrived here afternoon to attend the annual meetings of the International Monetary Fund and the World Bank. She drove from New York to Washington DC with a stopover at the University of Pennsylvania. In the year when we will be celebrating 100 years of Independence from British rule, that is 2047, we want to be and we aspire to be a developed country, Sitharaman told the students. To achieve that, the government has identified four key areas -- infrastructure, investment, innovation and inclusiveness, the finance minister said. The first is infrastructure, whether it is physical such as bridges and ports or digital which is critical for so many different purposes. The second would be to invest in it. In that comes the element of private investments. But more importantly, have public investment go in to kick-start the whole thing, she said. Sitharaman said the third focus area is innovation and stressed the need for innovative solutions for the problems specific to India and its aspirations. For many of the things that we want solutions for cannot be made somewhere and then brought here. The costs will go up and they may not be appropriate to the situation for which we want a solution. We want in-situ solutions for many of our problems. That itself becomes the challenge for innovations to work out, she said. The most important is inclusiveness, Sitharaman said. In everything that we do, we want to make sure that everybody gets included. She also said, Affirmative action is given in the Constitution. You will have to uplift the poor, you will have to uplift the scheduled castes and scheduled tribes. It is a commitment given in the Constitution.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Panel Urges Zone-Wise Freight Plans and Crew Strengthening

A Parliamentary Standing Committee has urged the Railway Ministry to prepare zone-wise plans to enhance freight traffic in regions with limited mineral movement and industrial activity, according to its ninth report tabled in Parliament on 10 August. The Committee commended efforts to augment network capacity through multitracking, operationalisation of Dedicated Freight Corridors (DFC) and modernisation of yards. It noted that the Ministry has said periodic data-driven assessments are carried out with inputs from Zonal Railways, Divisional Railways and Business Development Units to support po..

Next Story
Infrastructure Urban

Coal India Weighs Buying Wealth Minerals Unit For Chile Lithium

Coal India Limited is evaluating a proposal to acquire the Chilean lithium assets held by the Wealth Minerals unit in Canada as part of a strategic move into battery materials. The company is assessing the asset portfolio, regulatory landscape and integration challenges while retaining coal operations as its core business. The potential interest reflects a shift by a state-owned miner towards minerals critical to the low emission transition. Wealth Minerals, a Canada-based exploration company, holds licences and exploration agreements in Chile that involve hard rock and brine lithium prospects..

Next Story
Infrastructure Energy

Bajel Projects Wins Ultra?Mega Transmission Line Contract

Bajel Projects Limited has secured an Ultra?Mega engineering, procurement and construction order for a transmission line package TL05 from PowerGrid Corporation of India Limited on behalf of its special purpose vehicle. The award forms part of the Western Region–Eastern Region inter?regional network expansion scheme Part A procured under the tariff based competitive bidding route. The contract covers construction of a 765 kV double circuit transmission line. The scope includes bypassing of the Raigarh (Tamnar)–Dharamjaygarh (Sec?B) 765 kV double circuit line and reconfiguration to form the..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement