Uday Kotak lays out 7 priorities for Viksit Bharat, warns against economic complacency

Uday Kotak, a veteran banker, has outlined seven priorities for India's journey towards becoming a developed nation, known as Viksit Bharat. These priorities include fiscal consolidation, strengthening financial institutions, and increasing domestic production. According to The Economic Times, Kotak emphasized the need for tighter fiscal management, financial-sector reforms, and stronger domestic production to avoid economic complacency.

The Indian Express reported that discussions at a Finance Ministry conference also highlighted India's export and growth potential, citing examples such as Meghalaya's flower exports being overtaken by Vietnam due to logistical connectivity issues. Additionally, despite being a major producer of sesame seeds, India exports less sesame oil than Japan, which relies on imports, due to a lack of value addition.

Kotak, as per Free Press Journal, warned that India must remain alert to changing global economic conditions despite its strong position internationally. He identified key areas that require attention, including addressing gold imports and balancing regulation with growth. NK Singh, chairman of the Fifteenth Finance Commission, also stressed the need for a new centre-state economic compact to implement the financing strategy for Viksit Bharat, emphasizing the importance of cooperative federalism and healthy competition among states.

Brief written by urgent.news from The Economic Times - Economy, The Indian Express, Free Press Journal, Hindustan Times — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.