PM Modi announces task force for next-generation reforms to drive India’s journey towards ‘Viksit Bharat’ by 2047

Prime Minister Narendra Modi on Friday announced the formation of a task force to chart out next-generation reforms aimed at accelerating India’s economic growth and realising the vision of a developed nation by 2047.“We have decided to constitute a task force for next-generation reforms. This force will work within a set time-frame to align existing laws with the needs of the 21st century and prepare the nation to become ‘Viksit Bharat’ by 2047,” Modi said in his address to the nation on the 79th Independence Day.Outlining the government’s broader strategy, the Prime Minister said that to fulfil the vision of Viksit Bharat, India is building a modern ecosystem in every sector while striving for self-reliance.He highlighted that the government has already undertaken a range of reform measures in areas such as foreign direct investment (FDI), reducing compliance burdens, scrapping obsolete laws, and simplifying regulatory frameworks. Additionally, reforms have been introduced in the country’s income tax laws to make them more streamlined and efficient.In a further push towards easing the legal environment for businesses and individuals, Modi announced that a bill to decriminalise minor offences will be presented in Parliament next week. The measure is expected to improve the ease of doing business and reduce the judicial backlog.