New Delhi, Aug 15 (PTI) From making India's first semiconductor chip to building jet engines and a 10-fold nuclear power expansion, Prime Minister Narendra Modi's bold announcements on the 79th Independence Day aim to put the country on the path of becoming a developed nation by 2047.

Addressing the nation from the ramparts of the Red Fort here, Modi recalled how attempts to set up semiconductor factories 50-60 years ago were "killed at birth" while other nations prospered.

"India is now on mission mode. By the end of this year, the country will roll out its first Made in India chip," the prime minister said.

He said India's nuclear energy capacity is set to grow 10-fold by 2047.

Modi said work is underway on building 10 new nuclear reactors as part of India's mission to increase atomic power generation capacity by more than 10 times in the next two decades.

The prime minister also gave a challenge to scientists and youngsters to develop the country's own jet engines for "Made in India" fighter jets.

"I urge the young scientists, talented youngsters, engineers, professionals and all departments of the government that we should have our jet engines for our own Made in India fighter jets," he said.

The prime minister also announced big-ticket Goods and Services Tax (GST) reforms and promised a Diwali bonanza for citizens.

"Next-generation GST reforms will be unveiled on Diwali, reducing taxes on essential goods and providing relief to MSMEs, local vendors and consumers," he said.

Modi also announced the creation of a dedicated Reform Task Force to drive next-generation reforms to accelerate economic growth, cut red-tapism, modernise governance and prepare India for the demands of a USD 10 trillion economy by 2047.

He also launched an employment scheme worth Rs 1 lakh crore, under which newly-employed youngsters will receive Rs 15,000 per month.

The scheme aims to benefit three crore young Indians, strengthening the bridge from Swatantra Bharat to Samriddha Bharat.

Modi also highlighted the dangers of a demographic imbalance due to infiltration and illegal migration in border areas.

He announced the launch of a high-powered Demography Mission to address this national-security challenge, ensuring that the unity and integrity of the country and the rights of its citizens are safeguarded.

In a bid to achieve energy independence, the prime minister announced a Deepwater Exploration Mission to tap ocean resources, alongside major expansions in solar, hydrogen, hydro and nuclear power. PTI SKU RC

Next-generation GST reforms to reduce taxes on essentials and ease compliance for MSMEs and local vendors. Next-generation GST reforms will reduce taxes on essential goods and ease compliance for MSMEs, local vendors and consumers, supported by a dedicated Reform Task Force to cut red-tapism and modernise governance. A central employment scheme will deliver monthly support to newly employed youth, while a high-powered Demography Mission targets illegal migration as a national-security and rights-protection concern. Strategic industrial and energy missions include domestic semiconductor development, indigenous jet-engine efforts, a major nuclear capacity expansion, and a Deepwater Exploration Mission with expanded renewable and hydrogen initiatives.