Strong statistical framework key to achieving Viksit Bharat goal by 2047: PM's Principal Secretary PK Mishra

Principal Secretary to the Prime Minister PK Mishra highlighted the critical role of a strong statistical framework in shaping policies and achieving the vision of Viksit Bharat by 2047. Speaking at the inauguration of the Conference of State Planning, Finance and IT Secretaries, Mishra emphasized the need for reliable evidence-based policymaking, credible statistics, data harmonisation, and technology-enabled governance.

He stressed that a robust statistical system is essential for measuring development progress across states and districts, assessing policy outcomes, and ensuring public resources deliver intended results. Mishra pointed out that India's statistical framework must evolve to keep pace with the country's growing digitalisation, formalisation, and interconnectedness.

He also called for the financial sector to shift its focus from merely supporting immediate economic expansion to financing the next generation of businesses. Mishra urged banks and financial institutions to move from collateral-based credit evaluation to assessing businesses based on their cash flows and revenue-generating capacity.

He highlighted the importance of technology in expanding credit access and called for stronger corporate bond and equity markets, along with a greater role for institutional investors and infrastructure funds.