India’s Mission 2047: How India aims to become a developed economy – high speed expressways, electric mobility, digital payments & more

Apr2,2024


from india mission 2047 Becoming a developed economy: India is setting ambitious targets to become a developed economy developed economy Focusing till 2047 electric mobility, digital paymentAnd high-speed expressway, according to officials. Union ministries will soon outline five-year budget plans for better financial management.
According to an ET report, the initiatives include producer responsibilities, recycling centres, soil surveys, youth skills and increasing manufacturing with low emissions. Extended producer responsibilities for products like cars, setting up of recycling centers for electronic waste, initiatives like comprehensive soil surveys, efforts to boost agricultural productivity, skill development for youth, accelerated production from auctioned mines, deepening of Indian geology Valuing and increasing manufacturing production with lower emission levels are among the priorities.

Mission 2047: action plan

Mission 2047: action plan

Its main objectives are to enhance economic growth, employment generation, social progress and environmental sustainability. The ministry is engaged in public consultation for Vision 2047 and short-term goals.
Some measures can be implemented in the first 100 days of the new government. Inter-ministerial meetings have begun to define these goals. According to a government official, the first inter-ministerial meeting to outline the objectives of the initiative took place in late March 2024.
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Develop India@2047 InitiativeLaunched by PM Narendra Modi In December 2023, the target is to make India developed by 2047 – the 100th year of independence. The long-term expenditure estimate will include capital expenditure, subsidies and incentives.
Officials revealed that the initiative aims to outline the estimated expenditure associated with these measures in the long term, which includes long-term capital expenditure plans, subsidies, production-linked incentives (PLI), and policy-based incentives.
Additionally, future incentives or expansion of existing incentives should be clearly outlined in advance, as well as measurable outcomes to be defined and monitored in line with the 2047 goals.
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Finance Minister Nirmala Sitharaman had announced in her February budget speech that a detailed roadmap for India developed by the government would be presented in July.
According to NITI Aayog estimates, India's economy is expected to reach $30 trillion by 2047, much higher than the current $4 trillion.



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