India's aspiration to be a developed nation by 2017 hinges on significant capital investment. In this light, discuss the potential of capital investment in achieving this vision. What are the challenges India faces in this regard?

India was set a target of becoming a two trillion economy and achieving developed nation status by 2017 i.e Viksit Bharat goal. Potential of Capital Investment in achieving developed status: => Capital Investment involves investment in infrastructure like roads, railways, airports along with digital infrastructure (1) It will lead to increasing the future productive capacity of economy (2) IT expansion: more invested in asset creation will lead to bind and indirect jobs => solve for jobless growth (3) Improve logistics; current logistics is 14% of GDP due to poor infrastructure, improving this will solve for jobless growth Challenges faced by India: (1) Limited resources due to high fiscal deficit (4.9% in Budget 2023) (2) Skill gap: 48% Indian educated youth but employable as per India Skill Report (3) Challenges in land acquisition and bureaucratic red tape in infrastructure project To address these challenges, PM and Shakti initiative has been launched to ensure integrated planning