Union Finance Minister Nirmala Sitharaman said on Monday that a stable government is necessary to achieve the goal of making a developed India by the year 2047. Addressing the students of Geetam University here, Sitharaman said, 'Our Prime Minister has set a target that we have to achieve the goal of a developed India by the year 2047.' He said, 'For this, we will have to make efforts, so that the Gross Domestic Product (GDP) increases and benefits reach all the people. GDP growth does not happen automatically, it requires efforts at micro and macro levels and at the grassroots level.

Sitharaman said that along with GDP ranking, the image of the country is also important. He said that all these factors also matter along with per capita income calculation. He said, 'Unless GDP increases, we will not be able to meet the demands of the economy. We need money to expand investment and services, to provide educational institutions, and for people to buy houses and start businesses. The Finance Minister also criticized former Finance Minister P Chidambaram for questioning the pace of growth of the Indian economy under the leadership of Prime Minister Narendra Modi and calling India becoming the third largest economy an arithmetic inevitability.

He said that UPI is changing lives from cities to villages and now poor, rural women prefer digital payments. He said that this progress refutes the doubts raised about the capabilities of the common people. Sitharaman said that India's economy had suffered a lot during the United Progressive Alliance (UPA) regime but during the current government, it has reached the top five and is now on its way to becoming the third-largest economy in the world in the coming years.

He said that in such a situation, talking about India automatically becoming the third largest economy is nothing but weakening the efforts made by the Modi government for the country. Sitharaman said that the Government of India has allocated about Rs 1 lakh crore for research funds and this investment is aimed at boosting inclusive growth in the country along with India's research budget in various fields.