Modi 3.0: What the PM may focus on for India's transformation into Viksit Bharat

livemint.com:

As Prime Minister Narendra Modi embarks on his third term, let’s call it ‘Modi 3.0,’ expectations run high of transformative policies aimed at solidifying India’s position as an economic powerhouse. Modi’s letter to the nation after his 45-hour meditation in Kanyakumari suggests Modi 3.0 plans to hit the ground running.

Here, in brief, is what we can expect: Strengthening manufacturing will be on the radar with ‘Make in India 2.0’ that focuses on advanced manufacturing, including Industry 4.0 technologies such as artificial intelligence (AI), Internet of Things, robotics and big data. We can also expect the development of specialized manufacturing clusters for sectors such as electronics, automobiles, textiles and pharmaceuticals to help enhance efficiency and develop specialized skills, apart from tax breaks, subsidies and facilities to attract investment, and expanded production-linked incentive (PLI) schemes to cover more industries, with a commitment to create new jobs.

Boosting the economy will be done through infrastructure development by making more highways, airports, ports and logistical parks, and via the use of technology to improve quality and safety. The National Infrastructure Pipeline (NIP) will get a renewed thrust, smart cities mission will be expanded to more urban areas and high-speed rail and highway links will be built to improve connectivity in Jammu and Kashmir, the Northeast and other remote areas.

Stronger defence preparedness will be on the agenda, done by focusing on modernization and the local production of aircraft, weaponry and other military hardware. Financial sector reforms may be initiated by addressing non-performing assets and modernizing public sector banks.