Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has stated that India needs to be a developed country by 2047 as envisaged by Prime Minister Narendra Modi. This vision can only be realised if timely modernisation of the systems and processes take place. Sitharaman made these remarks at a meeting to review the Regional Directorates and Registrar of Companies. The Union Finance Minister said that today is the era of governance, and therefore Ministry of Corporate Affairs or MCA's driving principle should be to make governance easy, transparent and with focus on facilitation. MCA must strive to be futuristic to be able to serve stakeholders in a time-bound manner. FM Smt. Sitharaman credited Indian corporate governance for gaining the trust of citizens by providing transparent financial information. The Union Finance Minister emphasised the importance of MCA's role in guiding and regulating companies to ensure their governance structures are well-managed.

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