UDUPI: Finance Minister Nirmala Sitharaman on Tuesday described “Viksit Bharat 2047” as a national resolve rather than a slogan, urging citizens to collectively undertake a “massive yajna” to transform India into a developed nation within the next two decades.
Delivering a talk on Viksit Bharat as part of Nitte Vinaya Hegde Oration 2026 in Mangaluru, she stressed that the goal demands belief in India’s capabilities, shedding colonial-era mindsets, and resisting “naysayers” who undermine national confidence.
Alluding to India’s historical economic prominence, Sitharaman noted that the country once contributed nearly 24% to global GDP before colonial rule reduced it to under 4%, calling the loss not just economic but a blow to national spirit. She said the past decade has marked a turnaround, with India now the world’s fastest-growing major economy, backed by a young median age of 28 and a vast, educated workforce.
Citing data from the International Monetary Fund, she said India is projected to grow at 6.5% through 2027. She pointed to key achievements, including lifting over 25 crore people out of multidimensional poverty between 2013 and 2023, foreign exchange reserves reaching $700 billion, and the success of digital public infrastructure.
India’s Unified Payments Interface (UPI), she said, processes billions of transactions annually and accounts for nearly half of global real-time digital payments.
Sitharaman insisted that Viksit Bharat is not merely about GDP growth but about inclusive development-ensuring opportunities for farmers, women, and marginalised communities.
She stressed the need for continued reforms, infrastructure investment, simplified taxation, and a stronger role for the private sector, while asserting that the government must act as an enabler rather than a controller.
Sitharaman urged India to build solutions tailored to its own societal needs, particularly in areas like healthcare, justice, and business, while ensuring responsible innovation.
She also called for balancing technological advancement with cultural heritage, noting that India’s soft power-from yoga to regional languages-remains a global asset. Addressing global challenges, she said India must pursue growth that is sustainable and equitable, with focus on clean energy, water security, and climate resilience.