Private sector investment crucial for Viksit Bharat: DEA secretary

The Department of Economic Affairs secretary has stressed that private sector investment is vital for achieving India's Viksit Bharat (Developed India) vision. Government budgets alone cannot support the scale of transformation required, the official said.

States are currently identifying sector-specific financing needs and exploring innovative funding mechanisms. The official emphasized that increased domestic savings and efficient capital allocation are key to sustaining growth amid global economic uncertainties.

Fiscal discipline and attracting greater capital inflows will be critical for navigating external challenges and realizing the development agenda.