Finance Minister Nirmala Sitharaman today highlighted the need for eight per cent GDP growth to meet the goal of Viksit Bharat. Addressing the inaugural session of the Kautilya Economic Conclave in New Delhi, Ms Sitharaman asserted that the country’s economy is resilient and continues to grow sustainably and its capacity to absorb global shocks is strong. She added that the country’s growth is firmly anchored in its domestic factors amid global volatility. She highlighted that geopolitical conflicts are intensifying globally, calling for reforms at global institutions to meet current needs. 

 

The Minister further stated that Prime Minister Narendra Modi has set two tracks in motion. The first track is achieving the goal of Viksit Bharat by 2047 while the second track focuses on achieving this goal through self-reliance. She also emphasized on strengthening self-reliance while remaining globally engaged. The Minister also asserted that the government’s focus on fiscal consolidation, improved quality of capital expenditure, and reining in inflationary pressures has been consistent.

 

The Finance Minister underscored that in the era of unprecedented global uncertainty and volatility, the conclave provides an invaluable opportunity in bringing together distinguished economists and policy makers.