New Delhi: The Centre and states will come together on September 18 and 19 for a two-day conference to discuss financing priorities and policy challenges linked to India’s long-term development journey.
The conference, titled “Financing India’s Journey Towards Viksit Bharat”, is being organised by the Ministry of Finance in New Delhi. Union Finance Minister Nirmala Sitharaman, along with several Chief Ministers, state finance ministers and senior officials, is expected to participate.
The discussions are aimed at improving coordination between the Centre and states and finding practical ways to mobilise funds for key development priorities. According to the Finance Ministry, the meeting will bring together research and policymaking to examine the financing requirements of India’s growth journey.
The conference will cover three major areas — the broader macroeconomic situation, financing agricultural transformation and funding the country’s energy transition.
The macroeconomic discussions will look at India’s development milestones and the financing needed to sustain growth. The role of private investment in supporting infrastructure and other development requirements will also be examined.
Agriculture will be another major focus. Discussions will cover financing agricultural markets and marketing, along with ways to strengthen resilience and promote sustainable use of resources in the sector. Better access to finance can play an important role in supporting farmers, improving market infrastructure and strengthening rural economic activity.
The energy session will focus on the financial requirements of the transition towards cleaner energy. This includes financing renewable energy projects, transmission infrastructure and emerging areas such as carbon capture, utilisation and storage.
The implications of GST 2.0 for states will also be discussed. The issue assumes importance as states assess how changes in the tax system could affect their revenues and financial planning. The discussions are also taking place ahead of the next GST Council meeting scheduled for October 7.
The conference will also examine how development outcomes can be measured more effectively. Technology and its role in improving governance and public service delivery will form another part of the discussions, according to the Finance Ministry.
The broader objective is to strengthen Centre-state policy coordination while ensuring that financing is aligned with India’s medium- and long-term development needs. With states playing a major role in infrastructure, agriculture, public services and capital expenditure, closer coordination on financing can have a direct impact on the pace and quality of development.
The meeting therefore goes beyond discussions on government finances. It provides a platform for the Centre and states to look at how public resources, private investment and policy reforms can work together to support economic growth and create the financial foundation for India’s development goals.