The Union Finance Ministry is holding a two-day conference of state Finance Ministers and Finance Secretaries in New Delhi on September 18 and 19.
The conference, titled “Financing India’s Journey towards Viksit Bharat,” focuses on financing challenges and policy priorities for India’s development journey.
Union Finance and Corporate Affairs Minister Nirmala Sitharaman will attend the conference. Several Chief Ministers, state Finance Ministers and senior government officials are also expected to participate.
The meeting brings the Centre and states together to discuss how public finances and policy coordination can support long-term development.
Centre and States to Discuss Financing Priorities
The conference will examine policy complementarities between the Centre and the states.
The Finance Ministry said the meeting will combine academic research with practical policy discussions. It will focus on the financial challenges that India may face during its development journey.
The discussions will also examine ways to improve coordination between different levels of government.
This Centre-state approach is important because states play a major role in areas such as infrastructure, agriculture, energy and public services.
GST 2.0 Impact Among Key Issues
The implications of GST 2.0 for states will form part of the discussions.
A background paper prepared for the conference will examine how the GST changes could affect state finances. Officials will also discuss wider issues related to fiscal management and development financing.
The meeting comes ahead of the next GST Council meeting scheduled for October 7. It also precedes the formal pre-budget consultations for the Union Budget 2027-28.
The discussions therefore provide an opportunity for states to raise financial and policy issues before these upcoming processes.
Three Major Thematic Sessions
The conference will include three major thematic sessions.
The first will focus on the macroeconomic outlook. Officials and experts will discuss broader economic developments and their implications for public finances.
The second session will examine financing agricultural transformation. Discussions will cover ways to improve agricultural markets and strengthen financing for the sector.
The third session will focus on financing the energy transition. This will include discussions on renewable energy, transmission infrastructure and emerging technologies.
These three themes connect directly with India’s longer-term development and investment requirements.
Private Investment to Be Discussed
The conference will also consider ways to increase private financing for the country’s development priorities.
Private investment can support infrastructure and other projects that require large amounts of capital. The Centre and states are expected to examine policy measures that can encourage such investment.
The background material for the conference includes issues such as private financing for Viksit Bharat, financing agricultural markets and investment in renewable energy and transmission assets.
The discussions will also cover carbon capture, utilisation and storage technologies.
Focus on Agricultural Transformation
Agriculture will receive specific attention during the conference.
The government plans to discuss financing requirements linked to agricultural transformation and the development of agricultural markets.
Better financing mechanisms can help support infrastructure, technology and market access in the agriculture sector.
The Centre and states will examine these issues from both national and state-level perspectives.
The discussions are expected to focus on practical policy approaches that can support agricultural growth while addressing financing challenges.
Energy Transition Takes Centre Stage
Energy transition is another major theme of the conference.
India is expanding renewable energy capacity while also developing the infrastructure required to transmit electricity from new generation projects.
The conference will examine financing requirements for renewable energy and transmission assets.
Officials will also discuss newer technologies, including carbon capture, utilisation and storage. These areas require significant investment and long-term policy planning.
Experts to Provide National and State Perspectives
Former Finance Secretary and 15th Finance Commission Chairman N.K. Singh will deliver the keynote address at the inaugural session.
Former Maharashtra Additional Chief Secretary and Finance Secretary Sudhir Shrivastava will present the state perspective on financing Viksit Bharat.
Their participation will bring both national and state-level perspectives to the discussions.
The conference will also bring together government officials and economic experts to examine financing challenges from different viewpoints.
Strengthening Centre-State Coordination
The Finance Ministry has positioned the conference as a platform for closer policy coordination between the Centre and states.
States manage several major development programmes and have significant responsibilities for public infrastructure and essential services. Their financial capacity therefore has a direct link with India’s broader development goals.
The conference provides an opportunity to discuss these responsibilities alongside national priorities.
It can also help identify areas where policy coordination may improve the use of public and private resources.
Viksit Bharat Financing Roadmap
The two-day meeting comes as the Centre continues discussions on financing India’s long-term development goals.
The Viksit Bharat framework involves economic growth, infrastructure development, technological progress and improvements in living standards. Financing these priorities will require coordination between governments and continued investment.
The Finance Ministry’s conference aims to bring these financing questions into a common discussion involving state and Union government representatives.
The outcome of the discussions could inform future policy approaches on areas such as taxation, agriculture, infrastructure and energy.
Conference Brings States Into Development Financing Debate
The September 18-19 conference places state Finance Ministers and Finance Secretaries at the centre of discussions on India’s development financing priorities.
GST 2.0, macroeconomic developments, agricultural transformation and energy transition are among the major issues on the agenda.
The meeting also provides a platform to discuss private investment, renewable energy infrastructure and new technologies.
With the Centre and states participating together, the conference is expected to focus on policy coordination and practical financing challenges as India plans for its longer-term development journey towards Viksit Bharat.