India will be a developed country by 2047, on a rapid fundamental framework

The Minister of Power, New and Renewable Energy, stated that rapid modernization is taking place in the foundational framework of the country, areas including roads, telecommunications, and the electricity sector. This will lead to a transformation in India’s situation, and the country will become a developed nation by 2047.

Referring to improvements in the foundational framework taking place during the current government’s tenure, minister said, “From 2014 until now, budget allocation for capital expenditure has increased fivefold, and it has tripled in the last 4 years.

Not only has capital expenditure increased, but also the capacity to utilize funds has grown through the implementation of better schemes via Prime Minister’s Gati Shakti.” He mentioned that the country is progressing towards becoming a developed nation.

Under the leadership of the Prime Minister, progress meetings and initiatives like ‘PMG’ have led to better monitoring of projects, helping resolve issues related to foundational frameworks and accelerating stalled projects.

It highlighted the achievements of the Ministries of Road Transport and Highways, Rural Development, Railways, Telecommunications, Civil Aviation, Ports, and Shipping, and provided information about the Central Government’s Carbon Credit Trading Plan.

Several countries have agreed to purchase green hydrogen produced in India under this plan. The plan is regulated and not optional; it is limited to the regulated carbon credit market, not voluntary.

In June, the Central Government approved the establishment of India’s first domestic regulated carbon market through a gazette notification.