Indian Finance Ministers’ Conference Concludes With Focus on Financing India’s Viksit Bharat Vision
NEW DELHI— The first Conference of State Finance Ministers and Finance Secretaries of States and Union Territories with legislatures concluded in New Delhi on Saturday, with discussions focused on financing India’s development priorities and the country’s long-term vision of becoming a “Viksit Bharat.”
The two-day conference, led by Union Finance Minister Nirmala Sitharaman, was held under the theme “Financing India’s Journey towards Viksit Bharat.” It brought together representatives from the Centre and the states to deliberate on key issues related to financing the country’s development priorities.
The discussions covered a range of issues, including the macroeconomic outlook, financing agricultural transformation and financing the energy transition.
Experts who participated in the deliberations included Dr. Sajjid Z. Chinoy, Dr. Samiran Chakraborty, Professor Ashima Goyal and Dr. Harsh Kumar Bhanwala, among others.
The Finance Ministry said the discussions provided participants with a deeper understanding of the challenges ahead while highlighting opportunities along India’s path towards becoming a Viksit Bharat.
The ministry said the conference also reflected the spirit of “Team India,” with the Union and state governments working together toward a shared vision of national development.
On the first day of the conference, Anuradha Thakur, Secretary of the Department of Economic Affairs in the Ministry of Finance, said the first-of-its-kind gathering adopted a longer-term and broader approach to India’s financing needs.
The conference brought together issues involving both public and private finance and included perspectives from experts in academia, industry, banking and policymaking.
Representatives of the states also shared their perspectives during the discussions and emphasised that the journey towards Viksit Bharat would require greater complementarity and cooperation between the Union and state governments.
N.K. Singh, President and Life Trustee of the Institute of Economic Growth and Chairman of the 15th Finance Commission, delivered the keynote address. He highlighted India’s macroeconomic foundations and referred to the country’s 7.8 per cent GDP growth in the first quarter of financial year 2026-27.
Singh also referred to the recent upgrade of India’s credit rating by Japan Credit Rating Agency, which raised the country’s rating from BBB+ to A-.
The conference focused particularly on how financing can support major areas of India’s development agenda. Discussions on agricultural transformation examined the financing requirements of the farm sector, while sessions on the energy transition looked at the financial challenges associated with the shift toward cleaner energy.
The broader discussions also underscored the importance of bringing together public resources, private investment and institutional expertise to address the financing requirements of India’s long-term development.
The meeting comes as the government continues to pursue the Viksit Bharat 2047 vision, under which India aims to become a developed country by the centenary of its independence.
The Finance Ministry said the deliberations at the conference would help deepen the understanding of financing challenges and opportunities and strengthen cooperation between the Centre and states.
The conference concluded with an emphasis on coordinated action and multi-level partnership as India works toward its long-term development objectives. (Source: IANS)
