Archive · 20 Sep 2026
Finance Ministry Conference Maps States' Role in Viksit Bharat
India held a two-day meeting with state leaders about building a developed country by 2047.
The meeting was called a conference on financing the journey toward Viksit Bharat.
Leaders discussed how to pay for development in areas such as farming, power and infrastructure.
They said government budgets alone would not be enough.
Private companies, banks and new ways of raising money could also help.
The Chief Economic Adviser said strong states are necessary for a strong India.
He asked states to make it easier for businesses to invest and to prepare better projects.
He also said states should increase spending on building useful infrastructure.
The two-day conference of chief ministers and state finance ministers concluded on Saturday after discussions on financing India’s development journey.
Participants examined pathways for sustained, inclusive and broad-based growth, including private-sector and innovative financing.
Chief Economic Adviser V Anantha Nageswaran urged states to attract private investment, improve project preparation and strengthen capital expenditure.
Nageswaran said states should raise capital outlay from about 2.4% to 3% of GSDP by 2031-32.
Sessions covered agriculture transformation, banking-sector finance and state-specific priorities including power, infrastructure, technology and energy transition.
- Who
- The Union Finance Minister, chief ministers, deputy chief ministers, state finance ministers, senior state officials and Finance Ministry officials attended.
- What
- A two-day conference discussed financing requirements and policy priorities for India’s journey toward Viksit Bharat.
- When
- The conference concluded on Saturday and was published in the report on September 20, 2026.
- Where
- The conference brought together representatives of the Union government and states across India.
- Why
- It was held to identify financing pathways for sustained, inclusive and broad-based growth and development toward 2047.
- Duration
- Two days
- Main theme
- Financing India’s journey toward Viksit Bharat
- Capital-outlay target
- Increase state capital outlay from approximately 2.4% to 3% of GSDP by 2031-32
- Key sectors discussed
- Agriculture, infrastructure, power, technology, energy transition and banking
- Private financing
- Private-sector financing and innovative financing mechanisms were identified as important because government budgets alone would not be sufficient.
- Key development principle
- Chief Economic Adviser V Anantha Nageswaran said Viksit Bharat depends on Viksit Rajya.