Sitharaman's Vision: Indian Economy Evolution and Challenges

Skills Gap and Employability Crisis

• Indian Finance Minister identifies employability as India's biggest challenge
• Significant disconnect between university qualifications and industry requirements
• Government actively addressing the skills gap through targeted initiatives
• Special focus on emerging technologies like AI to enhance youth employability
• Plans to leverage India's demographic dividend through skill development

Digital Economy Transformation

• Successful implementation of Unified Payments Interface (UPI) system
• Widespread adoption of QR code payments across all economic levels
• Notable transition from traditional plastic cards to digital payments

Key benefits achieved:

• • Democratization of payment systems
  • Enhanced financial inclusion
  • Reduced cash dependency
  • Improved transparency in transactions
  • Greater economic participation

Green Energy Transition and Challenges

• Commitment to net-zero emissions by 2070
• Surpassed solar energy targets ahead of schedule

Major investments in renewable energy:

• • Solar and wind projects
  • Hybrid renewable systems
  • Green hydrogen and ammonia production
  • Advanced battery storage development
  • Electric mobility initiatives
  • Modular nuclear plants

Key challenges faced:

• • High transition costs
  • Escalating natural gas prices
  • Non-receipt of promised $100 billion global fund
  • Reliance on domestic funding and solutions

Additional Concerns:

• Geopolitical challenges affecting economy:
  • Increased insurance costs
  • Disrupted shipping routes
  • Supply chain issues affecting food, fertilizer, and fuel
• Focus on indigenous solutions over foreign technology
• Emphasis on public funding for development initiatives