OPINION I IMPRI

The IMPRI Center for the Study of Finance and Economics (CSFE), IMPRI, Impact and Policy Research Institute, New Delhi, hosted an interactive panel discussion on the topic “Viksit Bharat – Developed India @2047 and Union Budget 2024-25” on 24th July 2024, under IMPRI 5th Annual Series of Thematic Deliberations and Analysis of Interim Union Budget 2024-25, as part of IMPRI #WebPolicyTalk. 
The chair for the session, Prof Nilanjan Banik , Professor and Program Director (BA, Economics and Finance), Mahindra University, Hyderabad; Visiting Consultant, IMPRI, commenced the session by  laying out the Indian economic scenario.
Dr S P Sharma, Chief Economist & Deputy Secretary General, PHD Chamber of Commerce and Industry (PHDCCI) carried forward the session by comprehensively discussing the targets set by economic survey and the steps to be undertaken by the government as part of the union budget.
Ms Yuvika Singhal, Economist, QuantEco Research; Former Economist, Yes Bank & ICICI Bank  in her brief remark on India’s budget as a step towards Viksit Bharat 2047 highlighted India’s possibility of achieving the two key milestones for viksit bharat- a 30 trillion economy and 1000 dollar per capita GDP.
Mr Saugata Bhattacharya, Former Chief Economist, Axis Bank emphasized the roles to be played by the federal units- the states in the journey of India towards Viksit Bharat.
The esteemed panelist Dr Rajesh Shukla, Managing Director and CEO, People Research on India’s Consumer Economy (PRICE) ICE360, Indian Institute of Management Udaipur  applauded the government’s achievement in achieving the targets set as per the macro economic parameters.  Dr Shukla emphasized on considering the way to Viksit Bharat as a process that cannot be entirely measured by analyzing an event like the union budget. 

The budget has successfully addressed the issue of imbalance development by envisioning the expansion of urbanization and creating new economic hubs in the country. Dr. Shukla stated the need for empowerment of human resource and its better utilization through grassroot data driven policy formulation and implementation. (54:07 in video)

Mr Subhomoy Bhattacharjee, Consulting Editor, Business Standard; Professor of Practice, Director, Centre for Regulatory Governance, Jindal Global Law School,  OP Jindal Global University, Sonipat in his excellent overview of Indian budget as a step towards viksit bharat, addressed the two extreme views supporting and opposing the government’s annual fiscal statement.
Prof Pooja Misra, Professor of Economics, Area Chair – Economics & IB, Birla Institute of Management Technology (BIMTECH), Noida shared insightful key elements of the union budget in the session.

The session concluded with the chair’s remarks on India’s position as a strong and resilient economy addressing the challenges of both internal spheres -unequal growth, food inflation – as well as external geo-political tensions. Prof Nilanjan Banik concluded the event by extending gratitude to the IMPRI team for successfully hosting the panel discussion and ensuring its smooth execution.