Idea of “Viksit Bharat” 

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    Syllabus: GS 2/Governance/GS3 /Economy

    Context

    • Recently, the expression “Viksit Bharat” figured in the interim budget speech.

    About Notion of “Viksit Bharat” 

    • The ‘Viksit Bharat 2047’ agenda is a comprehensive vision plan by the Government of India, aiming to transform India into a developed nation by the year 2047, marking the 100th anniversary of its independence.
    • The vision encompasses various aspects of development, including economic growth, social progress, environmental sustainability, and good governance.
    • The soul of Indian Version of notion of development is emphasised through Hon’ble PM’s Sankalp of Panch Pran, with Viksit Bharat being one of them and of utmost importance.
    • The four pillars of Viksit Bharat are Yuva (Youth), Garib (Poor), Mahila (Women) and Kisan (Framers).
    • Other aspects like happiness ought to be the central pursuit in this journey. Without achieving happiness, development has no meaning. Ironically, the nations have developed, but people are not happy.

    Goals 

    Do you know ?
    – There is no definition of developing and developed countries (or areas) within the UN system.
    – Over time the use of the distinction between ‘Developed regions’ and ‘Developing regions’, including in the flagship publications of the United Nations, has diminished.” 
    – The World Bank no longer uses terms like “developed” and “developing”. Instead, the categories are low-income, lower-middle income, upper-middle income and high income. 
    A. Low income is for per capita income less than $1,085, lower-middle income is for per capita income between $1,086 and $4,255, higher-middle income for per capita income between $4,256 and $13,205 and high income for per capita income more than $13,205.
    B. The World Bank’s categories are based on official exchange rates. With official exchange rates, India is in the lower-middle income category now.

    Challenges 

    • Rising population growth and demographic changes pose challenges to goal of ‘Viksit Bharat. There are also  challenges on the infrastructure, regulatory and tax front.
    • Also, the conventional focus on GDP fails to consider crucial social indicators, neglecting human and social aspects of development.

    Key Initiatives undertaken so far for Viksit Bharat@2047 Agenda

    • Other steps : The government’s free ration scheme, Ayushman scheme, 80% discounts on medicines, the PM Samman Nidhi scheme for farmers, houses for the poor, tapped water connections, and construction of new toilets will continue at a fast pace.
      • The Union government will provide Rs 75,000 crore as interest-free loan for 50 years to support reforms by states for realising the vision of ‘Viksit Bharat’.
      • Interim Budget 2024 : Rs. 11 lakh 11 thousand 111 crore has been allocated for capital expenditure.
        • This will not only lead to the construction of 21st-century modern infrastructure in Bharat, but also create countless new opportunities for employment for the youth

    Suggestions and Way Ahead

    • Realizing the vision  of Viksit Bharat’ demands unwavering dedication, a firm belief in India’s destiny and a profound recognition of the vast potential talent and capabilities of its people, particularly the youth.
      • There is a  the need to channel the energy of the students and the youth of every university towards achieving the common goal of ‘Viksit Bharat’
    • It requires comprehensive efforts with large-scale infrastructure development, broad-based welfare measures for poverty alleviation, commitments to empowering women and youth through entrepreneurship, as well as the development of a vibrant agriculture sector.
    • To achieve the goal of Viksit Bharat by 2047, all sectors must contribute to the economic growth of the nation. 
    • For that,regulatory reforms and ease of doing business are critical as they pave the way for attracting global investments.
    Mains Practice Question
    [Q] What does the term ‘Viksit Bharat’ indicate ?Discuss the roadmap for India’s pursuit of ‘Viksit Bharat’.

    Source:IE