Centre, states discuss new financing models for Vision 2047

Amaravati: A high-level Centre-State meeting involving Union and State Finance Ministers, economists and private-sector experts has explored new ways of mobilising financial resources for the country’s Vision 2047 goals beyond the conventional funds received from the Centre, Finance Minister Payyavula Keshav said on Saturday.

Addressing a press conference at AP Bhavan in New Delhi, Keshav said the meeting, organised by the Union Finance Ministry, focused on how the Centre and individual States could set long-term development targets and build the financial resources required to achieve them.

State Finance Ministers, private-sector representatives, economists and retired senior bureaucrats participated in the discussions. Keshav said the exercise was particularly useful in examining additional sources of finance to meet future development requirements.

Agriculture emerged as one of the key areas of discussion, with participants examining investment requirements, credit availability, water integration and measures to protect farmers from climate-change risks. Suggestions from experts associated with the Tata and Kotak groups, as well as former Planning Commission chairpersons, were also considered, particularly on opportunities in the energy sector and strengthening public-private partnerships.

Keshav said successful initiatives implemented by different States were also discussed and expressed confidence that the exchange of ideas would benefit the Centre, States and society in the long term.

On Andhra Pradesh’s horticulture sector, he said Chief Minister N Chandrababu Naidu was expected to inaugurate a Global Horticulture Hub at Madanapalle in the last week of September or the first week of October. Union Finance Minister Nirmala Sitharaman had also been invited to the event, with the date yet to be finalised.

On the prevailing weather conditions, Keshav said the impact of El Nino had been severe in South India this year. He said the State government was preparing to deal with the situation, with protection of standing crops and ensuring drinking-water availability identified as its immediate priorities. He said the government was taking necessary measures in line with the directions of Chief Minister Chandrababu Naidu to protect crops and prevent drinking-water shortages.

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