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vantagefeed.com > Blog > Business > Prime Minister Narendra Modi says India will get on track and become a 5 trillion dollar economy
Prime Minister Narendra Modi says India will get on track and become a 5 trillion dollar economy
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Prime Minister Narendra Modi says India will get on track and become a 5 trillion dollar economy

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Last updated: March 5, 2025 12:52 pm
Vantage Feed Published March 5, 2025
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“We need to ensure that businesses of all sizes are actively involved in this scheme. This year’s budget has announced 10,000 medical seats with a record target of adding 75,000 seats to the health sector over the next five years,” Modi also spoke about the government’s decision to grant infrastructure positions to the tourism sector, saying it will create jobs for young people.

He encouraged the industry to invest in the health sector and also spoke about the potential of health tourism that creates jobs.

Modi also highlighted the establishment of daycare cancer centres and the development of a digital healthcare infrastructure that will ensure quality healthcare reaches its final miles.

Modi emphasized that the tourism sector could contribute up to 10% to India’s GDP, creating employment opportunities for many young people.

“50 destinations across the country will be developed with a focus on tourism,” the prime minister said, adding that granting infrastructure status to hotels at these destinations will increase tourism ease and boost local employment.

Emphasizing the expansion of Mudra Yojana to support homestays, Modi also highlighted initiatives such as “Indian Healing” and “Buddha Land” to attract tourists from around the world. “Efforts are being made to establish India as a hub for global tourism and wellness.”

“Planned urbanization is essential to accommodate a larger population. We have decided to allocate a Rs 1 urban area to the Urban Challenge Fund. The private sector, particularly the real estate industry, must focus on planned urbanization,” he said.

He added that the government places importance on skill development on par with the infrastructure sector.

He said AI could contribute one crawl to the economy. “In this direction, we have allocated Rs 500 for AI-driven education and budget research,” he also said India will set up a national, large-scale language model for the development of AI capabilities.

“India has become the world’s third largest startup ecosystem,” the prime minister said, adding that several measures have been introduced into the budget to promote startups.

He mentioned the approval of the Rs 1-Lakh-Crore Corpus Fund to boost research and innovation. This will increase investment in emerging sectors.

Modi will focus on the provision of 10,000 research fellowships at IIT and IISC, which will promote research and provide opportunities for talented young people.

The Prime Minister also highlighted the role of the National Geospatial Mission and the National Research Foundation in accelerating innovation, and the need for collective efforts at all levels to promote India to new heights of research and innovation.

Emphasizing the importance of the Gian Bharatam mission in maintaining the legacy of India’s rich manuscripts, Modi announced that more than a trillion manuscripts will be digitalised under the mission, leading to the creation of a national digital repository.

The Prime Minister has announced the creation of a repository to provide global access to India’s historical and traditional knowledge. He also mentioned the establishment of a National Genetic Bank to preserve the genetic resources of plants, ensuring food security for future generations.

He urged various institutes and sectors to actively participate in these initiatives.

(Includes PTI input)

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