Urgent steps required to boost Indian economy – COVID19.

On all fronts ,and immediately...

Announcements be made immediately during these lockdown ..

 

The situation all around in the country, on all fronts is extremely despairing and disappointing. There si no sign of revival because everyone is wondering what has hit them without any warning and trying to understand the various rules and regulations to stay safe first. We have hardly managed to get time, to look beyond our safety and towards the businesses.

Now it is time to roll up our sleeves and immediately set into working to improve the situation... Some announcements be made immediately by the administrative powers during this lockdown. Through policy, and through incentives, assurance, financial measures, and through legislation- these constructive measures in difficult times can be implemented to provide some relief.

The final aim is to improve standard of living of almost all by providing them meaningful employment or enterprise .Creating new jobs by focussing on new opportunities must be attempted. Since the Government focus is more authoritative than communicative, they must adopt the new approach and be open to seeking opinions and suggestions from Enterprises and attempt at solving their difficulties and stalemate considering their obstacles. This way the even if the speed slows down, the cycle of economy will still keep moving ahead.

The downside of all this is the procedural delays during to required paperwork, lack of trained manpower, no seriousness about the situation, or inquiries by authorities who do not know the purpose of the questioning, Further discouragement comes out of harassment by the office bearers in ensuring authentication of the grievance, rather than empathetic support.
Unless this changes, India will not realise its true potential in any field!

 

 

Here are a few humble suggestions that might be considered to make things better in the new future.

1. India is a vast and country with so much diversity .Factors responsible for growth and progress in each district are vastly different. One standard plan will not be useful to other district, hence a growth plan for each district needs to be drawn up and evaluated for its effectiveness.

2. Any order by any Government department stopping any business unit  from operating, must specify the financial loss and loss of employment it will cause. This could also be noted and followed by the sentencing Courts. As a policy, no industry should be ordered to close during a minimum 3 year period, after starting, this would be a good legislation.

3. Local business may be represented in all committees where policy matters are decided. This way the local economy generators will be able to voice their concerns and influence the direction of decisions.

4. An appeal can be presented by the Hon PM to resolve disputes through mediation. The cases in courts must be reduced. This should be done continuously for 5 years by every sane politician; this will also reduce the burden of the Government and reduce the number of its disputes. It is observed that one negligent wrong noting by a clerk on revenue records can go up to the Supreme Court to correct it. This is an unattended administration judicial shortcoming and must be corrected.

5. All environment permissions should be granted immediately. A 15 days limit could be set for permissions of all Departments as 60 days is too long and hampers progress. The word ‘environment’ is exploited many a times and induces delays in the quick working process. Setting up this deadline this will speed up capital expenses which will generate employment for capital assets and then employment for running the establishment.

6. Deemed permission rules should be made in favour of the applicant, and not the administration. The administration can defer permissions at the moment, but we need to speed up the process of granting of permissions in the near future. In the pre-Covid19 era there was sufficient work to generate employment, but now in this new post COVID19 era, there will be less capital work. Hence expediting permissions and grants is the essence of survival kit for the economy.

7. Grant more powers to the Grampanchayat . 40% of the Indian population still resides in villages and an additional 20% urban population still has village connections. .This makes rural development is a must, today for multiple reasons .This will only happen with making Grampanchayats empowered with sufficient legal rights to take decisions.
That should happen ASAP .They should be given more rights than Municipal corporations. as a strategy.

8. Declare any construction built on self -owned plot, legal, in all rural areas. This will enable every person can avail a mortgage on his house from organised banking. This in turn will boost a law compliant society and further boost valuation. This will be a major thrust for rural banking, and will change the entire picture of the rural economy. In addition, the Government can also incentivise staying rural.

8. Make CRZ rules, landlord friendly. The biggest tourism potential lies unexploited and unused, due to poor drafting of laws. Other countries like Sri Lanka have better policies. This may be a good time to learn and adopt suitable policies.

9. Yoga tourism can be promoted and propagated in a big way. It could be combined with Pranayam like exercises. This can be converted into a big tourism booster. Domestic and international markets va be tapped for this sector, thus encouraging our heritage and knowledge base.

10. For the Archaeological Department, the NOC is never received in time. A lot of time is wasted in evaluation of the monuments, the paperwork, keeping records of its history etc. Also the poor maintenance of these national assets is a tragedy. Our national heritage sites can be converted to touristic locations, boosting national and international tourism and in turn the Hospitality industry that caters to it.

In conclusion, we need to have a relook at the legislations in a major way in the new post-COVID19 times, if we have to survive and prosper. If the Administration wants to make India a 5 trillion dollar economy, all people and policies must move in one focused direction only. Some part of controls must come in hands of Enterprises and their confidence to invest, must rise. Unless the existing millions of small and big enterprise believe that a change is possible, and unless they experience the change in the economic environment, India’s dream of overcoming Covid19 challenge from the economic perspective will not be viable.

To conclude, the stress and challenges of COVID19, demand innovative solutions. Once the Government starts bringing about the changes suggested above, it will give the people more courage to fight and overcome. The mood of the country will rise, because there will be a plan in place to revive the economy with new set of legislations. It will of course have the support for implementation from the local administration on the grass root level. This way we will have the best chance to move reviving and boosting our limping economy...