New Delhi, Dec 21 (IANS) Union Finance Minister Nirmala Sitharaman on Sunday said that the Chintan Shivir offers a platform for higher-order thinking and that such discussions, when translated into policy, can accelerate India’s transition towards Viksit Bharat.

FM Sitharaman was speaking after chairing the Chintan Shivir of the Ministry of Finance and the Ministry of Corporate Affairs in Karnataka’s Vijayanagara.

“Chintan Shivir provides a platform for higher-order thinking, which, when translated into policy, can accelerate India’s transition towards Viksit Bharat,” she said.

“Governance reforms must focus on simpler laws and facilitative administration, anchored in trust-based governance rather than presumptions of non-compliance,” FM Sitharaman added.

Highlighting the role of technology, the Union Minister stated that AI can support groundwork and help detect evasions, but must remain guided by human intelligence.

“Sustained prosperity is essential for reducing poverty and inequality,” FM Sitharaman stated.

The Chintan Shivir focused on three broad areas linked to the goal of building a developed India.

These included financing for a developed India, improving the ease of doing business, and the use of artificial intelligence in governance.

Senior officials held detailed discussions in these areas and later shared their suggestions for wider deliberation.

During the discussions, participants stressed the need to strengthen India’s financing system by giving more power to states and urban local bodies.

There was also a focus on deepening corporate bond markets, expanding digital and collateral-free lending, and encouraging greater private investment to support long-term growth.

On ease of doing business, the emphasis was on simpler laws and a more facilitative administration.

The meeting was also attended by Union Minister of State for Corporate Affairs Harsh Malhotra and senior officers from both ministries.

Officials discussed the importance of non-intrusive and data-driven compliance, lowering regulatory costs, faster dispute resolution, and building trust-based systems in areas such as GST, customs, and corporate regulation.

–IANS

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