India: A Reformed Agenda for 2047 | Speech by Sanjeev Sanyal | Markets & Economy 2023
United Way of Chennai is a non-profit entity working in the verticals of education, health, environment, livelihood, and sustainable energy. We join hands with CSR partners in working for various causes. Apart from our engagement with corporates, we have our annual fundraising event, Markets & Economy. In the 12th edition of our annual fundraiser, Mr. Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister discussed on India: A Reformed Agenda for 2047.
Mr. Sanyal focused on the long-term economic vision for the country. He said, ‘We essentially believe in India, driven by risk taking innovation and creative destruction. This is an article of faith that informs a great deal about the economic reforms done in the past few years.’ The policies of the government are triangulated; firstly, to maintain a hawk’s eye on the macroeconomic stability; secondly, to maintain the risk-taking innovation and creative destruction; and thirdly to ensure safety nets for the poor and those at risk of falling off the edge thereby addressing absolute poverty.
Mr. Sanyal reflected on two major areas where reforms are necessary to ensure the growth and development of the country. They are administration and judicial system. He believes that the administration needs to think of itself as a public service and a civilized judicial system will lead us to becoming a civilized country.
The government is focusing on radically upgrading our infrastructure, energy transition to counter climate change, management of water bodies and other aspects of the environment front, and healthcare. He ended his speech with the note that ‘The role of the government is very clearly to provide leadership where necessary; infrastructure where essential and to provide you with a stable playing field where you – the private sector can take this country to where it needs to be which is first of all to be the third largest economy by end of this decade and hopefully the world’s largest economy by 2047’.