Principal Secretary to the Prime Minister addresses Annual Conference of Odisha Economic Association

New delhi (PIB): Principal Secretary to the Prime Minister, Shri P K Mishra today addressed the 56th Annual Conference of Odisha Economic Association, at Sambalpur, Odisha. The Principal Secretary highlighted the significance of the theme of the conference ‘Pathways for Sustainable Growth in an Uncertain World’ citing unprecedented turbulence and uncertainty in the global economy in recent years. Stressing on India’s journey to become a developed nation by the year 2047, Dr Mishra underlined the significance of attaining sustainable growth while achieving high growth trajectory, and said, “High growth that is not sustainable will not be meaningful.” The Principal Secretary said that in the recent times the shift in global supply chains, challenges from artificial intelligence in services trade and employment, and the challenge of energy transition in the context of reducing carbon emissions are the three significant trends globally. He then highlighted a few issues for economic research for achieving the Sustainable Development Goals (SDGs). Shri Mishra explained the difference between economic development and economic growth and further emphasised that ‘Sustainable’ economic development involves achieving economic growth while addressing environmental concerns, social equity, and long-term stability. “Sustainable growth considers economic, social and environmental interdependence with a view to creating a balanced and resilient development model”, he added. The Principal Secretary discussed the origin of the idea of sustainability at the United Nations Conference on Human Environment in 1972 and the 2030 Agenda for Sustainable Development in the form of 17 Sustainable Development Goals (SDGs) with 169 targets to address global challenges. He said that the universal principle of ‘leave no one behind’ is central to the Global Agenda for 2030. Reiterating the Prime Minister’s Vision of India 2047, Shri Mishra said that India should go beyond achieving the desired level of per capita income and be atmanirbhar in all aspects. He added that women will be leading India’s development story, the economy will be more inclusive and innovative and corruption, casteism and communalism will have no place in our national life. Shri Mishra gave an overview of India’s efforts to achieve the SDGs in view of its efforts to become a developed country in the year when the country completes 100 years of its independence. He then analyzed some conceptual aspects of risk and uncertainty that did not exist when the SDGs were articulated, followed by bringing out some issues for economic research. The Principal Secretary underlined the Government of India efforts in the last 10 years to achieve sustainable development. He said that the G20 Presidency led by India was recognized globally for its unprecedented scale and success, emphasizing the adoption of new concepts for a sustainable and better future. The concept of LiFE (Lifestyle for Environment) and global initiatives such as Coalition for Disaster Resilient Infrastructure (CDRI) and International Solar Alliance (ISA) are significant landmarks in India’s efforts to address climate change, he added. Shri Mishra reiterated India’s vision for Amrit Kaal that includes sustainable development and reducing inequality by 2047. He underlined India’s efforts during the Covid-19 pandemic that chose the path of reforms. He hailed second generation reforms such as implementation of Goods and Services Tax (GST) in 2017 and the Insolvency and Bankruptcy Code (IBC), introduction of the Real Estate Regulatory Authority bringing transparency and accountability among others that required significant investment of political capital than just opening up of the economy.

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