Union Minister Ashwini Vaishnaw Discusses India’s Path to Becoming a Developed Nation by 2047
On Tuesday, Union Minister of Railways Ashwini Vaishnaw shared insights on Prime Minister Narendra Modi’s ambitious goals for India during his third term. Speaking at the Indian Foundation for Quality Management Symposium on Technology, Vaishnaw emphasized the need for India to become a developed nation by 2047. He highlighted that achieving this goal requires working three times harder than before.
Key Elements for Development
Vaishnaw outlined three major elements essential for India’s development: an inclusive and harmonious society, robust social, physical, and digital infrastructure, and achieving measurable economic parameters such as an $18,000 per capita income and a $30 trillion nominal GDP by 2047.
Roadmap to Success
Currently, India is close to a $4 trillion nominal GDP and a $3,000 per capita income. Vaishnaw explained that to reach the 2047 targets, India must grow six to eleven times over the next 25 years. This growth is achievable with a strong foundation, strategic planning, and meticulous execution beyond electoral cycles.
Four Pillars of Development
Vaishnaw identified four pillars supporting this vision. The first is investment in social, digital, and physical infrastructure, exemplified by the rapid rollout of 5G, UPI, and digital credit platforms. The second pillar is inclusive growth, while the third focuses on manufacturing and innovation. The fourth pillar was not detailed in the article.
Doubts Revealed
Union Minister -: A Union Minister is a member of the government in India who is in charge of a specific department or ministry, like education or health. They help make important decisions for the country.
Ashwini Vaishnaw -: Ashwini Vaishnaw is an Indian politician and a member of the Bharatiya Janata Party (BJP). He is currently serving as a Union Minister in the Indian government.
Developed Nation -: A developed nation is a country that has a high level of wealth, good infrastructure, and a high standard of living for its people. It usually means that most people have access to education, healthcare, and jobs.
2047 -: The year 2047 is significant because it marks 100 years since India gained independence from British rule in 1947. The goal is to make India a developed nation by this milestone year.
Per Capita Income -: Per capita income is the average amount of money earned by each person in a country in a year. It helps to understand how wealthy or poor a country is.
GDP -: GDP stands for Gross Domestic Product. It is the total value of all goods and services produced in a country in a year. A higher GDP means a stronger economy.
Inclusive Society -: An inclusive society is one where everyone, regardless of their background, has equal opportunities and access to resources like education and jobs. It means no one is left out or discriminated against.
Infrastructure -: Infrastructure refers to the basic physical systems of a country, like roads, bridges, and electricity. Good infrastructure is important for a country’s development and helps people live better lives.
Strategic Planning -: Strategic planning is the process of making long-term plans to achieve big goals. It involves thinking ahead and making decisions that will help reach those goals in the future.
