Union Minister for Finance and Corporate Affairs Nirmala Sitharaman delivering late Nitte Vinaya Hegde Oration 2026 on the topic ‘Viksit Bharat – Vision for 2047’ at Nitte (Deemed-to-be-University) campus at Deralakatte, Mangaluru on Tuesday.
| Photo Credit: H. S. MANJUNATH
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman said here on Tuesday that UPI platforms processed over 241 billion transactions with their value exceeding ₹314 lakh crore in 2025-26.Delivering late Nitte Vinaya Hegde Oration 2026 on the topic ‘Viksit Bharat – Vision for 2047’ at Nitte (Deemed-to-be-University) campus at Deralakatte, she said that India accounts for 49% of all real time digital transactions globally.The Minister said that India has the world’s third largest start-up ecosystem with over two lakh Department for Promotion of Industry and Internal Trade (DPIIT) recognised start-ups, including over 100 unicorns.IMF projects India’s GDP to grow at 6.5% in 2027, making it fastest growing economy in the world, she said, adding that India’s foreign exchange reserves stood at over U.S. $700 billion, among highest in the world and which is sufficient to cover around 11 months of goods imports.Ms. Sitharaman said that over 25 crore Indians have been lifted out of multi-dimensional poverty between 2013-14 and 2022-23. “It is one of the most remarkable poverty reduction in human history,” she said.“India’s digital public infrastructure enabled direct benefit transfers of ₹50 lakh crore, saving the government ₹4.31 lakh crore in leakages,” she said.What is Viksit Bharat?The Finance Minister said that Viksit Bharat is not just about GDP numbers. It is about something far grander, and far more human.“It is about the Krushika (farmer) in Kalyana Karnataka whose future is assured. It is about the girl in a village in Raichur district, who should be able to dream of becoming a scientist, a judge, without anyone telling her that her geography or her gender is her destiny. It is about the Mogaveera fisherman on the Udupi coast, whose ancestors traded with Rome, who should have access to the cold storage, the digital market, the insurance and the respect that his ancient profession deserves,” she said and added: “It is about the tribal youth in the forests of Dandakaranya, whose community has stewarded India’s biodiversity for thousands of years, finally having a seat at the table of prosperity without surrendering one’s identity.”Ms. Sitharaman said people should not mistake progress for completion. “A developing India cannot be our final destination. A Viksit Bharat must be. Because aspirations have changed,” she said.“A young lady, today, does not dream of subsistence. She dreams of excellence. She seeks quality education, world-class healthcare, meaningful employment, and a clean environment. She wants to compete globally and succeed confidently because in a rapidly changing global order, economic strength is the bedrock of strategic autonomy,” she said.The Minister said that late Vinaya Hegde, who was Chancellor of Nitte (Deemed-to-be-University) and president of Nitte Education Trust, contributed for the growth of India.Karnataka Legislative Assembly Speaker U. T. Khader, Dakshina Kannada Member of Parliament Captain Brijesh Chowta, Chancellor of the university and President of Nitte Education Trust Vishal Hegde, Pro Chancellor of the university M. Shantharam Shetty and Vice-Chancellor of the university M. S. Moodithaya were present. Published - April 28, 2026 07:21 pm IST
