Vision Viksit Bharat 2047: A Development Economics Perspective

Abstract

As India undertakes the ambitious implementation of Viksit Bharat 2047, a vision articulated in 2021, this paper examines VVB2047 initiative from the perspective of development economics as an eclectic discipline. In doing so the paper draws on the diverse interpretations of the Vision and highlights sectoral and sub-national aspects of development. It acknowledges the shifting global discourse related to the growing discontent with neo-liberal idea of globalization and explores the synergy between modern development growth models and ancient Indian wisdom. In India the Vedic dictum of development ‘vasudhaiva kutumbakam,’ that is to treat the whole world [universe] as one family resonates with development economics emphasising shared prosperity, environmental sustainability and non-exploitation \& expropriation. Incidentally, the ethos of one earth, one family resonates in contemporary developmental discourse, the most prominent representation being its inclusion as a part of the G20 emblem. This paper weaves these diverse ideas into a unified, integrated and holistic framework so that it enables India to leapfrog into the status of a developed nation by 2047.This synergy of ancient wisdom and contemporary development economics highlights the unique trajectory of India's vision for the future.