Focus on infra, investment, innovation, inclusiveness to make India developed nation by 2047: FM

• The Finance Minister recently said that the focus of the government is on four Is viz. infrastructure, investment, innovation and inclusiveness to make India a developed nation by 2047.

Infrastructure

• The public expenditure for infrastructure building has been ramped up significantly and will reach Rs. 10 lakh crore in 2023-24.
• Along with physical infrastructure such as bridges, roads, ports or airports, the creation of digital infrastructure is also given importance.

Investment

• The Government is looking for both public investment and private investment and creating a necessary environment.
• The emphasis on investment will promote greater participation of both the public and private sector.

Innovation

• The government has opened up several areas inclusive of space, nuclear energy, looking at getting out of fossil fuels.
• The youth today are giving solutions, which are very good for the frontier technologies.
• However, we need solutions for legacy issues which persist in India.

Inclusiveness

• Aims to reach for the developed nation in 25 years by focusing on inclusiveness, making sure that every section of India, the common man, benefits.

Prelims Takeaway

• Investment Models
• IPRs