3rd Engine of Development: Investment (in People, Economy, and Innovation) | Current Affairs | Vision IAS
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3rd Engine of Development: Investment (in People, Economy, and Innovation)

Posted 01 Feb 2025

Updated 04 Feb 2025

6 min read

Investing in People 

 

  • Saksham Anganwadi and Poshan 2.0: Support to over 8 crore children, 1 crore pregnant women and lactating mothers, and 20 lakh adolescent girls in aspirational districts and the northeast.
  • Atal Tinkering Labs: 50,000 Atal Tinkering Labs will be set up in Government schools in next 5 years.
  • Broadband Connectivity: To all Government Secondary Schools and Primary Health Centres in rural areas under the BharatNet project.
  • Bharatiya Bhasha Pustak Scheme: To provide digital-form Indian language books for schools and higher education.
  • National Centres of Excellence (CoEs) for Skilling: 5 National CoEs for skilling will be set up for "Make for India, Make for the World" manufacturing.
  • Expansion of Capacity in IITs: Additional infrastructure will be created in the 5 IITs.
  • Centre of Excellence (CoE) in AI: CoE in AI for Education will be set-up with a total outlay of ₹ 500 crore.
  • In Union Budget 2023-24, 3 CoEs in AI for agriculture, health, and sustainable cities were announced.
  • Expansion of medical education: 10,000 additional seats will be added in medical colleges and hospitals, towards the goal of adding 75,000 seats in the next 5 years.
  • Day Care Cancer Centres in all District Hospitals: In all district hospitals in the next 3 years. 200 Centres will be established in 2025-26. 
  • Strengthening urban livelihoods: A scheme for socio-economic upliftment of urban workers to improve their incomes, livelihoods and a better quality of life.   
  • PM SVANidhi: Scheme will be revamped with enhanced loans from banks and UPI linked credit cards with ₹ 30,000 limit.
  • Social Security Scheme for Welfare of Online Platform Workers: To provide identity cards and registration on the e-Shram portal and healthcare under PM Jan Arogya Yojana assisting nearly 1 crore gig-workers.

Investing in Economy

 

  • PPP in Infrastructure: Each infrastructure-related ministry will come up with a 3-year pipeline of projects in PPP mode.
    • States will also be encouraged to seek support from the India Infrastructure Project Development Fund (IIPDF) scheme to prepare PPP proposals.   
  • Support to States for Infrastructure: An outlay of ₹ 1.5 lakh crore is proposed for the 50-year interest free loans to states.   
  • Asset Monetization: Second Asset Monetization Plan for 2025-30 will be launched to plough back capital of ₹ 10 lakh crore in new projects.
  • Jal Jeevan Mission: To achieve 100% coverage, the Mission is extended until 2028 and O&M through "Jan Bhagidhari".
    • Since 2019, 15 crore rural households (80% of India's rural population) have received tap water connections.
  • Urban Sector Reforms: Related to governance, municipal services, urban land, and planning will be incentivized.
    • Urban Challenge Fund: Urban Challenge Fund of ₹ 1 lakh crore will be set up to implement the proposals for 'Cities as Growth Hubs', 'Creative Redevelopment of Cities' and 'Water and Sanitation'.
  • Power Sector Reforms: Additional borrowing of 0.5 per cent of GSDP will be allowed to states, contingent on electricity distribution reforms. 
  • Nuclear Energy Mission for Viksit Bharat: Development of at least 100 GW of nuclear energy by 2047. 
    • Amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up.
    • Nuclear Energy Mission for research & development of Small Modular Reactors (SMR) will be launched to operationalize at least 5 indigenously developed SMRs by 2033.
  • Shipbuilding:  Shipbuilding Financial Assistance Policy will be revamped and will also include Credit Notes for shipbreaking in Indian yards to promote the circular economy. 
    • Shipbuilding Clusters will be facilitated.
  • Maritime Development Fund: For long-term financing for the maritime industry with a corpus of ₹ 25,000 crore will be set up. 
    • This will have up to 49% contribution by the Government and the balance will be mobilized from ports and private sector. 
  • UDAN - Regional Connectivity Scheme: A modified scheme will add 120 new destinations, serve 4 crore passengers in 10 years.
    • Greenfield Airport in Bihar: Expansion of Patna airport and a brownfield airport at Bihta. 
  • Western Koshi Canal Project in Mithilanchal: Cultivating over 50,000 hectares. 
  • Mining Sector Reforms: Through sharing of best practices and institution of a State Mining Index, including those for minor minerals.
    • A policy for recovery of critical minerals from tailings will be brought out. 
  • SWAMIH Fund 2: Under the Special Window for Affordable and Mid-Income Housing (SWAMIH) 40,000 units will be completed in 2025. 
  • PM Gati Shakti Data for Private Sector: For furthering PPPs, private sector can access relevant data and maps from the PM Gati Shakti portal.        
  • Tourism for employment-led growth: Top 50 tourist destination sites in the country will be developed in partnership with states. 
    • The following measures will be taken for facilitating employment-led growth:
      • Organizing intensive skill-development programmes; 
      • Providing MUDRA loans for homestays;
      • Improving ease of travel and connectivity; 
      • Providing performance-linked incentives to states for effective destination management,
      • Introducing streamlined e-visa facilities along with visa-fee waivers.
    • Special focus on destinations related to the life and times of Lord Buddha.
    • Medical Tourism and Heal in India: In partnership with the private sector.

Investing in Innovation

  • Research, Development and Innovation: ₹ 20,000 crore to implement private sector driven Research, Development and Innovation initiative.   
  • Deep Tech Fund of Funds: To catalyze the next generation startups. 
  • PM Research Fellowship: 10,000 fellowships for technological research in IITs and IISc with enhanced financial support. 
  • Gene Bank for Crops Germplasm: 2nd Gene Bank with 10 lakh germplasm lines will be set up for future food and nutritional security.
    • India's first gene bank was set up in 1996 by the Indian Council of Agricultural Research-National Bureau of Plant Genetic Resources (ICAR-NBPGR) in New Delhi. 
  • National Geospatial Mission: To develop foundational geospatial infrastructure and data, and facilitate modernization of land records, urban planning, and design of infrastructure projects.
  • Gyan Bharatam Mission: for survey, documentation and conservation of our manuscript heritage to cover more than 1 crore manuscripts.
  • National Digital Repository of Indian knowledge systems for knowledge sharing. 
  • Tags :
  • Asset Monetization
  • Centres of Excellence in AI
  • Gyan Bharatam Mission
  • Bharatiya Bhasha Pustak Scheme
  • Urban Challenge Fund
  • Nuclear Energy Mission
  • National Geospatial Mission
  • Gene Bank for Crops Germplasm
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