FM Sitharaman Says India Can Achieve 10%+ Growth
Finance Minister stresses technology, innovation and startup-led growth to drive India’s economic expansion
- Sitharaman says India can achieve over 10% economic growth.
- Startups could contribute significantly to future economic expansion.
- Technology can improve productivity across sectors, including agriculture.
- Digital tools can help promote efficient and sustainable fertiliser use.
GG News Bureau
New Delhi, 26th Sept: Union Finance Minister Nirmala Sitharaman on Saturday said India could achieve economic growth of more than 10 per cent, while stressing the need for wider adoption of technology and innovation across sectors.
Speaking at a fireside chat organised by the IIT Madras Alumni Association, Sitharaman said higher growth would accelerate the country’s journey towards Atmanirbhar Bharat and Viksit Bharat, but would require greater efforts across sectors.
“It is possible to reach 10 plus growth, and I’m not just saying it to pep you all up. It is possible,” Sitharaman said.
She highlighted the expansion of India’s startup ecosystem since 2015 and said startups could make a significant contribution to economic growth in the coming years.
The Finance Minister also called for overcoming cynicism and encouraging greater recognition of developments taking place on the ground.
Technology key to productivity
Sitharaman underlined the role of technology in agriculture, saying technological interventions had made a significant difference in connecting producers with markets and improving productivity.
She cited the use of technology to speed up harvesting and prepare farmland for the next crop, along with drones and aerial geospatial instruments for precision mapping of land parcels.
“With the rapid movement of technology, the innovations which happen in startups will have to get into every sector,” she said.
She also cited the use of point-of-sale (POS) machines in fertiliser distribution as an example of technology being used to curb pilferage.
According to Sitharaman, the POS system, which is under pilot testing, records information about farmers, land and crops and can provide guidance on the quantity of fertiliser that may be sufficient based on soil, irrigation and crop conditions.
She said farmers would retain the freedom to choose the fertilisers they purchase, while technology could help determine the quantity required for their crops.
Focus on sustainable agriculture
Sitharaman said excessive use of pesticides and fertilisers was contributing to soil and water contamination, adding that technology could help address these challenges.
“So the sooner these technologies reach these sectors, the better it is for India. You will be optimally producing things and therefore adding to the growth,” she said.
