Transforming India by 2047: From Vision to Reality

Finance Minister Nirmala Sitharaman emphasized the Modi government's goal of transforming India into a developed nation by 2047, focusing on sunrise sectors and good governance. Despite fiscal challenges from COVID-19, the government remains committed to reducing the fiscal deficit and capitalizing on India's potential as a global growth engine.

Finance Minister Nirmala Sitharaman reaffirmed the Modi administration's ambition to elevate India to developed nation status by 2047, amidst her remarks to the Indian diaspora on her U.S. visit. She cited 'sunrise sectors' and prudent fiscal management as key strategies in achieving this vision.

Despite the financial strains brought on by the COVID-19 pandemic, Sitharaman highlighted that the government maintained fiscal responsibility, with a steadfast commitment to reducing the deficit to below 4.5% by 2026. Furthermore, she emphasized the visionary leadership of Prime Minister Modi as pivotal in driving initiatives on technology and renewable energy.

Upon her arrival in San Francisco, Sitharaman embarked on an 11-day tour of the U.S. and Peru. Among the highlights of her itinerary are participation in the Spring Meetings of the International Monetary Fund and the World Bank, where India's role as a global trade engine is anticipated to be a focal point.

(With inputs from agencies.)