Wed, Jul 09, 2025
Prime Minister Narendra Modi, who chaired the 10th governing council meeting of the Niti Aayog called for Team India – comprising states and the Centre -- to come forth to shoulder the country’s growth story as it aims to attain the developed nation status by 2047.
Inclusion and integration of women in the workforce, expanding tourism, building future-ready cities to support rapid urbanisation and well carved out policies ensuring the necessary changes -- these were among the areas that were outlined by the Prime Minister in the meeting with the theme --‘Viksit Rajya for Viksit Bharat@2047.”
“If Centre and states work together like Team India, no goal is impossible,” Modi said at the meeting held today.
“Only when people feel the change, it strengthens the change and transforms the change into a movement. We have a great opportunity as a team to fulfil the aspirations of 140 crore people,” he added.
Notwithstanding the Pahalgam terror attack, Modi insisted on the mission --"One State: One Global Destination,” with the idea to develop cities as tourist places.
This year’s meeting, held barely weeks after the Operation Sindoor, was particularly watched by almost all quarters. Besides, the timing of the meeting is crucial as the world economy faces multiple challenges amid heightened trade war with threats of reciprocal tariffs by the Donal Trump administration.
Odisha Chief Minister Mohan Charan Majhi, who was present in the meeting said that the state is committed to provide 40 per cent urbanisation by 2036 and 60 per cent by 2047 from the current 17 per cent. "We plan to develop a metropolitan region of 7,000 sq km around Bhubaneswar, Khurda, Jatni, Cuttack, Paradip, and Puri, with similar plans for other growth centers," he said.
"We seek to leverage the state’s long coastline with port based special economic zones, as a part of global value chain, to drive economic growth and create employment opportunities," the Chief Minister said as the the Narendra Modi government has laid special emphasis on maritime and port led development.
Meanwhile the 16th Finance Commission’s recommendations will also be crucial as it would chalk out the distribution of tax proceeds between the Centre and states.
The Finance Commission is set to finalise the recommendations by October end for the five year period of commencing on April 1, 2026.
Key issues such as entrepreneurship, skill development, supporting micro small and medium enterprises and employment that were discussed at the National Conference of Chief Secretaries in December 2024 were also taken up.
“The NDA government is determined to work with all state governments for the overall socio economic development of the citizens. We are committed to inclusive growth and all necessary steps will be taken,” Gopal Krishna Agarwal, BJP’s National Spokesperson for economic affairs told The Secretariat.
Chief Ministers of West Bengal, Kerala and Karnataka—Mamata Banerjee, Pinarayi Vijayan and Siddaramaiah were among the state heads who were not present in the meeting.
India’s Economic Growth Story Intact
The United Nations has pegged India’s economic growth at 6.3 per cent in 2025. Though it has been revised downward from its earlier projection of 6.6 per cent made in January, India remains one of the fastest growing large economies driven by resilient consumption and government spending.
Morgan Stanley has also upgraded its growth projection for India to 6.2 per cent for the financial year 2026, up from its previous forecast of 6.1 per cent.
The Reserve Bank of India has projected a 6.5 per cent growth rate for the current financial year.
Rating agency Moody’s in its recently released report said that compared to many emerging economies, India is in a better position to deal with the implications of US tariffs. Private consumption, expansion of manufacturing capacity with increased infrastructure spending will help cushion India’s economic growth momentum, the report said.
“India is better positioned than many other emerging markets to deal with US tariffs and global trade disruptions, helped by robust internal growth drivers, a sizable domestic economy and a low dependence on goods trade,” Moody’s said.