Strong statistical framework key to achieving Viksit Bharat target by 2047: Principal Secretary to PM PK Mishra | Today’s news
Principal Secretary to Prime Minister PK Mishra on Tuesday emphasized the importance of a robust statistical framework in formulating policies based on sound evidence and realizing the Viksit Bharat vision by 2047.
He said this while inaugurating the Conference of Secretaries of State for Planning, Finance and IT in New Delhi. The event was organized by the Ministry of Statistics and Program Implementation (MoSPI).
“He stressed the importance of credible statistics, data harmonization and technology-based management and said that a strong statistical system is essential for evidence-based policy making and achieving the vision of Viksit Bharat @ 2047,” MoSPI said in a statement.
Mishra said statistics, data, technology, planning and governance are increasingly interconnected elements of India’s development journey.
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A robust statistical system, he said, must enable governments to measure development progress across states and districts, assess policy outcomes, identify gaps and ensure that public resources deliver intended results.
Emphasizing the importance of updating the methods used to measure economic activity, Mishra said India’s statistical framework must keep pace with the growing digitalisation, formalization and connectivity of the economy.
PK Mishra calls on the financial sector to fund the next generation of Indian businesses
The financial sector should look beyond supporting India’s immediate economic expansion and focus on providing capital to the next generation of businesses, Principal Secretary to the Prime Minister PK Mishra said last month.
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“The challenge for the financial sector is bigger than financing growth next year. It’s about financing the next generation of Indian businesses,” Mishra said while addressing the 13th SBI Banking and Economics Conclave 2026.
He said India’s ambition to become a leading global economy will require a shift in the approach of the financial system, from “accommodating growth to enabling growth”.
Mishra pointed out that banks alone will not be able to meet the funding requirements of a significantly larger and more advanced economy. He called for stronger corporate bond and equity markets, along with a greater role for institutional investors and infrastructure funds.
Mishra also stressed the need to change the way lenders assess creditworthiness, urging them to put more emphasis on business cash flow than collateral.
“There’s another transformation that, in my view, the financial sector needs to make now. It’s a movement from collateral to cash flow,” he said.
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He highlighted the role of technology in expanding access to credit, saying lenders can use information from Goods and Services Tax (GST) returns, bank statements, payment records, data from account aggregators and digital lending infrastructure to assess businesses.
“This is not an argument for lower credit scoring standards. It is an argument for better awareness and better credit scoring,” Mishra said.
He said financial institutions should increasingly judge businesses on their ability to generate revenue and growth prospects, rather than relying mainly on assets held by their backers.
“If India is to move from manufacturing to design and innovation, our capital markets, our venture ecosystem and our banks must be equally willing to fund ideas and not just factories,” he added.
