4 hrs ago
States Urged to Improve Projects and Attract Private Investment
Chief Economic Adviser Nageswaran said states need to prepare development projects better.
He said good project reports and clear plans could help attract money from Indian and international lenders.
States also need to solve problems involving land, electricity, transport and government approvals.
These changes could make projects easier and faster to complete.
Nageswaran said states will have an important role in reaching India’s development goals for 2047.
He also said more loans should reach districts that have growth potential but are underserved.
The conference discussed increasing state spending on infrastructure and other development projects.
It also examined how to finance changes in farming and the shift toward cleaner energy.
Chief Economic Adviser Nageswaran urged states to improve project preparation and create conditions that attract private investment.
He identified land, power, logistics and clearances as factors affecting project viability and implementation speed.
Nageswaran called for credible project reports, project pipelines and clearer state partnerships to support the Viksit Bharat 2047 target.
A proposal was discussed to raise state capital expenditure from 2.4% to 3% of GSDP by 2031-32.
The conference examined financing needs for agriculture, renewable energy, transmission, storage and carbon-related projects.
- Who
- Chief Economic Adviser Nageswaran, state finance ministers and finance secretaries, and representatives from academia, industry, banking and policymaking institutions.
- What
- Participants discussed improving project preparation, attracting private investment and strengthening state-level public investment.
- Where
- When
- During a two-day conference; no specific dates were provided.
- Why
- To identify financing requirements and ways to mobilise resources for India’s long-term development.
Key facts
- Project preparation
- States were urged to develop credible project reports and project pipelines.
- Investment conditions
- Land, power, logistics and clearances were identified as factors influencing investment projects.
- Development target
- Nageswaran linked the role of states to the Viksit Bharat development target for 2047.
- Proposed capital outlay
- A proposal called for raising state capital expenditure from 2.4% to 3% of GSDP by 2031-32.
- Underserved districts
- Nageswaran called for directing more credit toward underserved districts with growth potential.
- Other financing themes
- The conference covered agricultural transformation, renewable energy, transmission, battery storage, pumped storage, carbon capture and carbon-credit frameworks.
- Next steps
- State-led working groups are expected to identify sector-specific financing needs and actionable recommendations.
Sources
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