Authors : Dr. Ramesh Kumar

Volume/Issue : Volume 11 - 2026, Issue 4 - April

Google Scholar : https://tinyurl.com/5ab4phte

Scribd : https://tinyurl.com/mssrzefm

DOI : https://doi.org/10.38124/ijisrt/26apr2409

Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.

Abstract : The Indian economy is the fastest-growing economy globally, driven by its strengths in its workforce, democratic institutions, and information and communication technology (ICT) sector. The Government of India aims to achieve” Viksit Bharat by 2047. From a developmental perspective, public policy is an essential tool for mobilizing financial resources and strengthening governmental systems. Economic studies consistently demonstrate that developed nations possess robust public policies. Through public policy, governments provide incentives to motivate and involve citizens in the development process. The government must prioritize implementing unbiased policies. This study examines how governments can effectively promote economic preferences and establish rational priorities to enhance productivity via public policies. Indian financial institutions play a crucial role in mobilizing resources from consumption to investment and from urban to rural areas, thereby contributing to accelerated economic growth. Data indicate that public policy interventions have stimulated economic activity, particularly within the finance and banking sectors. This study evaluates specific public policies and schemes to understand their role in fostering the formation and financialization of the Indian economy. India possesses significant potential to become a Viksit Bharat, but rational policy design and clear priorities are essential to enhance productivity and shift the prevailing mindset.

Keywords : Banking and Financial Institutions, Economic Development, Political Economy, Public Policy, Policy Preference, Policy Prioritization, Welfare State.

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