India's Budget Paves Path to Viksit Bharat 2047 with Massive Infrastructure Overhaul

India’s budget outlines ambitious infrastructure reforms, aiming for Viksit Bharat by 2047. Significant investments focus on urban development, clean energy, and policy reforms. Initiatives like the Urban Challenge Fund and Nuclear Energy Mission highlight efforts to enhance economic growth, project efficiency, and attract foreign investments.

The Indian government's latest budget reveals an ambitious strategy to transform the nation's infrastructure, according to India Infrastructure Finance Company Limited's Managing Director PR Jaishankar on Sunday.

Key investments and policy reforms are set to drive India towards becoming a Viksit Bharat by 2047, promoting sustained economic growth and improving quality of life. The budget highlights strategic advancements, such as the Asset Monetization Plan, to bolster the infrastructure sector, targeting a Rs 10 lakh crore investment in development.

Further innovations include the PM Gati Shakti initiative for urban planning and infrastructure project efficacy, as well as incentivizing Sovereign Wealth and Pension Funds with a five-year investment enhancement. Urban centers stand to benefit from the Rs 1 lakh crore Urban Challenge Fund, set to revitalize cities into dynamic growth hubs, with complementary measures laid out for clean energy development through the Nuclear Energy Mission and R&D funding for Small Modular Reactors.

(With inputs from agencies.)