Dr Sunil Bhardwaj , Ms. Sonia Sharma
India is not just a country; it is an emotion. Our country has been a treasure trove of diversity when it comes to kaleidoscopic cultures, myriad religions, traditions and heritage that is revered across the world. India is one of the oldest civilizations in the world.The country is embarking on new heights and has made astounding strides towards the vision of Amrit Kaal. Prime minister’s deep sense of engagements in realizing the dreams of approx. 1.42 billion citizens is blatantly visible through his far-sighted vision, policy initiatives and decisive decision making. The formal launch of Viksit Bharat campaign marks a significant milestone. The prospect of elevating India to the status of a developed nation by 2047, the 100th year of independence is truly beckoning.
While India has resolutely shed its ‘third world’ tag, a lot more is needed to catapult it to make it a ‘developed country’. Striving to become a developed country is a convoluted and multifarious goal that requires unremitting endeavors across various sectors. As per the World Bank’s definition, a country with per capita annual income of over $ 12,000 is considered higher- income nation. This is what India aspire to become by 2047. Before we move ahead, we must understand that a developed country is characterized by relatively higher level of economic growth, high living standards, and higher per capita income as well as performing well on human development index that includes education, literacy and health etc.
The level of being one of the fastest growing large economies of the world is a reflection that India has got many things right when it comes to investments in agriculture, defense, education, public infrastructure, financial regulations and stability etc. As per NITI Aayog, 13.5 crores moved out of multidimensional poverty between 2015 to 2021 due to public welfare thrust with improved governance to reduce leakage. The present government has realized that creating a next generation multimodal last-mile connectivity across the country is very crucial. It will ensure efficient transportation, reduce logistic cost, enhance market competitiveness and will start a cycle of higher investment, growth and employment generation in the country. The PM Gati shakti National Master Plan was conceptualized and being implemented to redefine and transform infrastructural landscape of the country. The Jan Vishwas Amendment of Provisions Act has brought forth a comprehensive set of regulatory reforms aimed to minimize bureaucratic bottlenecks focused on rationalization, simplification and digitization of regulatory compliance. Government has remained a staunch supporter to enhance ease of doing business and has decriminalized 183 provisions and 42 acts across the industries besides rationalizing monetary penalties. It will enhance public welfare by encouraging investments, lessening the burden of compliance for enterprise to enhance the nation’s entrepreneurial spirit. Even during Covid crisis, India was one of the fastest growing economies in the world. The country has registered a GDP growth rate of 7.6% in Q2 of FY 2023-24 and has accumulated foreign exchange reserves of $ 563 bn by 2023. A ‘C-Shape’ recovery after covid induced lock down is a validation of the fact that India has anticipated Covid crisis unlike many other developed nations and has set in place the requisite policy measures well in time. Countries around the world lauded India’s leadership role played under ‘Vaccine Maitri’ which is a humanitarian initiative undertaken by the Indian government to provide Covid-19 vaccines to countries around the world. India’s G20 Presidency has marked a diplomatic turning point and signals the stature that India has now command on global platform. The unanimous declaration signed at G20 in New Delhi marked India’s emerging role in global geo-politics. The country has shown an unwavering commitment and leadership on climate change, financial inclusion, digital infrastructure, crypto currency, women empowerment. Predominantly, the inclusion of African Union (AU) as a permanent G20 member, is a befitting act of India’s foreign diplomacy, earning it a title of ‘Vishwamitra’. As per IMF, global south and predominantly Africa is poised to drive a staggering 80% of global economic growth. India has always worked on improving relations with the main focus of preserving national interest as evident from India’s role during Russia-Ukraine war. The country has marked impactful presentation of its Space Research Program with Chandrayaan 3 lander, Vikram softly landed on the lunar surface, making India first country to land on south pole and 4th country to land on lunar surface. The visionary leadership, relentless efforts of scientific community and prayers of countrymen have contributed to the success of this ambitious mission. The anecdotes of startups, resilience, growth and developments across various sectors of Indian economy in recent tasking decade, convinced us to believe that the country is well prepared and determined to move towards the vision of ‘Viksit Bharat’ in the next 25 years.
All said and done, while we must continue to do what we are doing right, we also need to focus on the key areas for attaining at least 8% GDP growth per annum to become a higher income country. To reach the goal of Viksit Bharat by 2047, we need to implement the draft roadmap for India to become a $ 30 trillion developed economy in about two decades. Even among all the G20 countries, India has lowest per capita income with income inequalities across the population. The journey to become a developed nation is fraught with roadblocks, and India must get past insurmountable challenges. Some of the challenges to Viksit Bharat 2047 are:
Mindset: Overcoming the colonial mindset that undermines India’s rich cultural legacy, geopolitical position and national character.
Population Growth: India’s population is expanding at a highly unsustainable rate and is projected to cross 2 billion people by 2050. The country’s proliferating population growth puts strain on its resources, services and employment leading deprivation, unemployment, poverty and inequality.
Unemployment: Providing meaningful employment opportunities for the growing population is a significant challenge. More quality employment opportunities with respectable, wages and income, especially for women and youth. Skill development programs and policies that promote entrepreneurship can contribute to address this issue.
Poverty and Income Inequality: India has a large population living below the poverty line, and income inequality remains a significant issue. Bridging the gap between the rich and poor is crucial for sustainable development.
Corruption: Corruption can hinder economic development and erode public trust in institutions. Strengthening anti-corruption measures, promoting transparency, and ensuring accountability are vital for sustainable development.
Infrastructure Development: India needs substantial investments in infrastructure, including transportation, energy, and urban development. Improving connectivity and ensuring reliable basic amenities in rural areas are critical for economic growth besides reducing the logistic cost to below global levels.
Education: Despite improvements, the quality of education in many parts of India remains a concern. Access to quality education needs to be expanded, and the education system should be revamped to meet the demands of a rapidly changing global economy. From primary to tertiary education, our country laments poor quality of learning and education infrastructure in rural areas is not in a good condition.
Agriculture: The agricultural sector is a central pillar of the Indian economy, employing 58 percent of the nation’s workforce and contributing to about 17 percent of its GDP. Reforms in agriculture sector are critical to resolve the issues of low productivity, low income, poverty, less market access besides there is a need to revisit public subsidies in fertilizer, food, system of minimum support price.
Healthcare: Access to affordable and quality healthcare is a challenge, especially in rural areas. Addressing health infrastructure, ensuring healthcare accessibility, and improving public health outcomes are essential for development.
Social Issues: India faces various social issues, including gender inequality, caste discrimination, and communal tensions. Addressing these issues are important for creating an inclusive, equitable and happy society.
Political and Administrative Reforms: Efficient and transparent governance are crucial for development. Strengthening the institutions, reducing bureaucratic red tape, and implementing effective policies are essential for achieving sustainable growth.
Technological Advancement: While India has made significant strides in technology, there is a need to further invest in research and development, innovation, and digital infrastructure to stay globally competitive.
Green Economy: Achieving green and sustainable growth by adopting clean and renewable energy sources, redressing carbon emission, enhancing biodiversity and mitigating the impact of climate change remains very important.
Foreign Policy: China is India’s largest trading partner but also its biggest strategic rival. China has been expanding its presence and influence in India’s neighborhood such as Nepal, Sri Lanka, Bangladesh, Myanmar Maldives and the Indian Ocean. India’s counter strategies in trade or infrastructure development like Sagarmala project, Great Nicobar Island Project and Lakshadweep’s Kavaratti Island project etc. must be implemented at the earliest.
It is important to note that development and the Viksit Bharat agenda will remain a dream,If we fail to imagine how to rise in the global happiness index. A happiness induced development model for India is highly pertinent as we are significantly governed by social relationship and cultural mandates. By adopting a holistic approach that values happiness and well-being alongside economic growth, India can inspire to achieve a more sustainable and fulfilling development trajectory. So, let us aspire for a future, where the true values of genuine contributors are recognized and celebrated. In this envisioned future, substantiative work leads the way, and our collective efforts propel us towards realization of cleaner, developed, happy and proud ‘Bharat’.
As quoted by Abhijeet Naskar. “Nations are not handed perfect. They are perfected by hands”.
(The authors are Faculty in The Business School,Bhaderwah Campus, University of Jammu)
Follow our WhatsApp channel
