Sitharaman Seeks Stronger ADB Backing For Rural Jobs And Viksit Bharat Vision

(MENAFN- KNN India) New Delhi, May 30 (KNN) Finance Minister Nirmala Sitharaman engaged in high-level discussions with Asian Development Bank President Masato Kanda on Thursday, seeking expanded institutional support for comprehensive rural development programs with emphasis on employment generation.

The meeting centred on strengthening bilateral cooperation to advance Prime Minister Narendra Modi's strategic framework for achieving developed nation status by 2047.

During the deliberations, the Indian delegation outlined their 'Budget Plus' and 'Finance Plus' methodology designed to catalyse systemic transformation and promote innovation across sectors.

This approach aligns with India's comprehensive reform agenda while emphasising the need for institutional agility in addressing evolving national development priorities, according to official communications from the finance ministry.

Sitharaman articulated India's commitment to the 'Antyodaya' development philosophy, which prioritises inclusive growth ensuring benefits reach the most marginalised segments of society.

She specifically requested enhanced ADB collaboration for integrated rural prosperity initiatives encompassing job creation, local entrepreneurship development, and agricultural innovation to strengthen village communities and build resilience.

The Finance Minister emphasised the importance of advancing beyond traditional infrastructure development toward comprehensive urban governance reforms, transit-oriented development strategies, and strengthened municipal financial systems.

These initiatives form part of the broader Viksit Bharat vision for systematic transformation of India's development landscape.

Recognising the substantial capital requirements for India's infrastructure expansion, Sitharaman highlighted the essential role of private sector participation in meeting financing needs.

She encouraged the ADB to assume a more prominent catalytic function in facilitating private investment flows into critical infrastructure projects.

ADB President Kanda responded positively to India's proposals, affirming the institution's continued commitment to supporting India's development objectives.

He assured that the bank would leverage its international expertise and established best practices to contribute meaningfully to India's transformation agenda, expressing institutional support for the nation's ambitious goal of achieving developed economy status by 2047.

(KNN Bureau)

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