THE NATIONAL Democratic Alliance (NDA), headed by a vastly experienced Prime Minister Narendra Modi, will present its first regular Budget of the third term this month.
Finance Minister Nirmala Sitharaman, while presenting the Interim Budget in February, had promised to present the road map for Viksit Bharat (Developed India) in this upcoming one. What is the vision of Viksit Bharat? What fundamental policy framework and programmes will be needed to lay the foundation and road map?
VISION OF VIKSIT BHARAT
India will not become viksit (developed) by becoming the third largest economy if the people of the country don't earn enough to afford a decent living.
The best way to define Viksit Bharat is to adopt the goal of making India a high-income country.
The World Bank classifies a country as high-income if its average per capita income exceeds $13,846 a year. As many as 83 countries are currently in this bracket. Fifty-four countries are in the upper middle-income bracket ($4,466-13,845). India is not in these two categories.
With a per capita income of about $2,500, India is part of the lower middle-income group of 54 countries ($1,136-4,465), along with its South Asian neighbours.
To coincide with 100 years of Independence, we must deliver on the goal of making India a highincome country by 2050 to make it truly viksit. This will also provide a reasonable window of 25 years, across five governments, to realise the vision.
REPURPOSE EXPENDITURES
Expenditure policies in the second term of the Modi government were built around four basic pillars.
Diese Geschichte stammt aus der July 21, 2024-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der July 21, 2024-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Reasons To Be Bullish
The building blocks are in place for 7-8% growth for a prolonged period; India’s focus should be on sustaining this momentum to become a developed nation
India's Stock Market Revolution
India is on the way to a 45-trillion stock market, fuelled by rising investor participation, technological advancements, and economic growth
"Giving up is easy... fight harder"
As a working mother, the challenges are many but for me the toughest was emotional pain or ‘mom guilt’.
A PRESCRIPTION FOR CAPITALISM
PART ECONOMIC HISTORY AND PART COMMENTARY ON RECENT ECONOMIC EVENTS, SHARMA’S BOOK IS ALMOST A FLY-ON-THE-WALL ACCOUNT, AT TIMES
PASSION PLAY
If you're serious about photography or crazy about gaming, here are two devices that will help you indulge in your passion
The Other Emirate
Just an hour away from Dubai, Ras Al Khaimah offers a more laid-back alternative to its glamorous neighbour
A $500-billion Opportunity
With the right mix of vision, policy support, and investment, the affordable housing sector could unlock a growth story that addresses a critical human need
Boosting Start-ups, Shaping India
Start-ups are turbo-charging India’s growth story. But a lot needs to be done to empower them further
Coding Cash
The digital rupee has been around for nearly two years now, despite facing several challenges. With cash still remaining the king in India, the future of CBDC hinges on its programming and versatility
Banking On MFs For Wealth Creation
Retail investors, on a journey of wealth creation, have taken to investing in mutual funds of all hues—equity, debt, and hybrid