The Hindu Editorial Analysis- 2nd February 2025 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC PDF Download

Viksit Bharat and the Budget’s Play with Numbers

Why in News?

The background to Budget 2025-26, as presented even by the official Economic Survey 2024-25, has posed a challenge to the Narendra Modi government that is settling into its third term. Growth is decelerating because of dampened consumption demand and slowing public capital expenditure, and private investment has not been making up for the slack.

About the vision of Viksit Bharat by 2047

• Viksit Bharat @2047 initiative aims for a developed India by 2047, emphasizing inclusive growth, sustainable development, and strong governance, with the youth playing a pivotal role.
• Prime Minister Narendra Modi highlighted the youth as crucial agents and beneficiaries of change.

Strategy

• Union Budget 2024-25 presents a detailed strategy for Viksit Bharat, focusing on nine key priorities to create ample opportunities for all citizens.

Key Priorities

• Agriculture: Enhance productivity and resilience.
• Employment & Skilling: Focus on job creation and skill development.
• Human Resource Development: Promote inclusive development and social justice.
• Manufacturing & Services: Strengthen these sectors for economic growth.
• Urban Development: Foster sustainable and inclusive urban growth.
• Energy Security: Ensure reliable and sustainable energy sources.
• Infrastructure: Build and upgrade essential infrastructure.
• Innovation, Research & Development: Promote R&D for technological advancement.
• Next Generation Reforms: Implement reforms for future readiness.

Various Steps Taken

• National Policy on Skill Development & Entrepreneurship (NPSDE): Expands apprenticeship opportunities and addresses skill gaps.
• Pradhan Mantri Kaushal Vikas Yojana (PMKVY): Trained 1.42 crore individuals since 2015, focusing on skill development.
• Green Hydrogen and PM Vishwakarma initiative: Upskilling diverse populations in emerging sectors.
• Craftsmen Training Scheme (CTS): Long-term vocational training with significant female participation.
• National Youth Festival: Transformed into Viksit Bharat Young Leaders Dialogue to empower youth in holistic development.
• Digital India Land Records Modernization Programme (DILRMP): Modernizes rural land records, enhancing transparency and reducing conflicts.
• APAAR ID: Digital academic identity for students, facilitating recognition of prior learning and smoother transitions.
• 5G Connectivity: Expanding 5G connectivity to remote areas, promoting inclusivity in various sectors.
• PRAGATI Platform: Real-time monitoring of projects worth ₹18 lakh crore for efficient governance.
• Aspirational Districts Program: Using digital tools to promote inclusive growth in backward regions.

Key Challenges

• Economic Inequality: Addressing disparities between regions, communities, and income groups.
• Skill Development and Education: Bridging skill gaps in technology, healthcare, and sustainable industries, and improving educational infrastructure in rural areas.
• Climate Change: Tackling environmental challenges like pollution, deforestation, and resource depletion due to rapid industrialization and urbanization.
• Governance and Corruption: Combating corruption and improving public administration efficiency to facilitate progress.
• Technological Impacts: Managing risks associated with AI and technology advancements, such as labor market disruptions and income inequality.

Conclusion and Way Forward

• Comprehensive Initiatives: India is focused on fostering inclusive growth, enhancing productivity, and promoting sustainable development through various initiatives.
• Addressing Challenges: By tackling key challenges and leveraging its demographic dividend, India aims to achieve its vision of becoming a developed nation.
• Strengthening Institutions: Improving transparency and accountability in government institutions is crucial for creating a stable and thriving nation.
• Collective Mission: The journey towards Viksit Bharat involves every citizen, industry, and institution working together towards a prosperous future.