Union Minister of Finance Nirmala Sitharaman has stated that the government remains committed to continued reforms and maintaining macroeconomic stability. The minister said the government is ensuring that growth benefits every section of society. The Union Minister stated this while delivering her address during a fireside chat on the ‘Opportunities and challenges for India’s quest to become a developed economy by 2047’ at India House in London today. She said that as India embarks on transformative reforms to achieve Viksit Bharat, strengthening governance structures and state capacity is non-negotiable.

She added that one of the most notable advancements has been the digitisation of public services, with initiatives like Direct Benefit Transfer streamlining subsidies, reducing leakages, and ensuring targeted welfare delivery. The finance minister stated that infrastructure development has been a cornerstone of the government’s policy agenda over the past decade. She mentioned that the government’s capital expenditure has been raised by 4.3 times from 2017-18 to 2025-26. She added that this significant increase has led to a qualitative transformation in India’s physical infrastructure.

The minister added that the PM GatiShakti National Master Plan is strengthening multimodal connectivity, streamlining trade, and reducing logistics costs, and as a result, India’s ranking in the World Bank’s Logistics Performance Index has risen from 54 in 2014 to 38 in 2023.