The challenge of the economy is the biggest challenge before the Government at present to start economic activities at the earliest. The workers and workers have to be brought back to work to start the industry. Here, after the full closure, the companies are not very comfortable to start working again. They do not want to make any haste at the moment, so the Government will have to remove the sense of uncertainty about the future in the minds of the entrepreneurs. The Indian economy is undergoing an unprecedented crisis due to the corona epidemic. Though the Government is trying to address the crisis, there is a need to take multi-pronged steps to overcome the situation. The Government had announced a package of Rs 1.75 lakh crore for the deprived sections of the people, laborers and workers in the past, a large amount of which has been distributed among the beneficiaries. Two phases of full-fledged closure have passed.
The pace of infection of the coronavirus in India is lower than that of other countries. Many districts and areas in the country are still out of the red zone. Now the public is also mentally prepared to combat the coronavirus. Prolonged completion is not possible, as the closure of economic activities has stopped the states and the central Government from getting revenue. The increase in consumption of essential commodities and closure of their production has started to make the shortage of crucial commodities visible. To overcome the present situation, it is necessary to undertake economic activities in the country, which requires the Udhamis to provide a financial package as well as to work smoothly, and the Government needs to take several corrective steps to motivate domestic and foreign investors to invest in India. It is believed that soon the Government will announce an economic package, which will be different and better in many cases than the earlier package.
A strong Move needed to balance the economy in equilibrium.
Discussion with Prime Minister Narendra Modi, finance minister, finance ministry, and Niti Aayog officials to finalize the nature of the package to help businesses. The proposed package is being prepared in such a way that Indian hams are helped to be globally competitive. The package seeks to undertake activities related to the agriculture sector and provide relief to micro, small and medium Adams. The Prime Minister wants domestic and foreign investors to show interest in investing in the country. The Government does not want to exclude the Indian economy from the present crisis alone, but it wants to remove all the hurdles involved and take it to new heights. Therefore, a team of cabinet ministers led by the Prime Minister has been formed. The Prime Minister has asked the Chief Ministers of the States to provide basic amenities to the investors to attract them. The Prime Minister has also instructed to formulate a strategy to bring investment in the defense and mining sector. Finance Minister, Minister of State for Finance, Minister of Commerce and Industry, Home Minister…
The government needs to come up with plans to rescue small businesses.
All ministries have been asked to discuss and remove the hurdles in the path of investment and industrial development in a time-bound manner. To attract investors, the Government wants to provide them free land and provide all clearances on easy terms. The Prime Minister has asked ministers and officials to work diligently to implement policies and measures in a time-bound manner. Under the plug and play system, the Government wants the investors to provide all clearances as well as free land. It is proposed that companies will have to plant only. The other arrangement will be the Government. The Government will also provide an opportunity for the enterprises to work on contracts so that the production process can be expedited. The Government will also provide financial assistance to the companies in the matter. The Government is looking at the corona epidemic as an opportunity. There are no two opinions that, because of China’s negative role in the corona transition, many countries in the world do not want to invest in China. Now China’s biggest strength is cheap labor.
That is why the cost of Chinese finished products is low. India also has cheaper labor, which is also efficient and technically capable of doing all kinds of things. If India succeeds in accelerating the performance of the basic amenities required for investment and coordination, transparency, performance of the work between various government mechanisms, a large number of foreign investors can certainly approach India. The time is taken by the Government to start a new business, the time is taken to build a warehouse for the products of sale and purchase, its cost and procedure, the time is taken for a company to connect with the electricity connection, the time is taken in terms of business properties, the security guarantee of investors’ money, the level of tax structure, the type and number of taxes, the time is taken for depositing the tax, the time taken for export and the documents required therefor, the process of contracts between the two companies and the expenditure incurred therein, etc., will have to be a concession to the Government.
The government needs to help laborers and daily wagers.
The Government has recently made several economic reforms to facilitate ease of doing business and is continuously moving forward in this direction. There is currently a difficult situation before the Government. Therefore, the Government will have to take a number of steps to attract domestic and foreign investment in the country. The biggest challenge before the Government at present is to start economic activities at the earliest. Workers and workers have to be brought back to work to start the industry, but most of the laborers and workers do not want to return to work at the moment. This class has been the most troublesome of the corona epidemic. Their confidence has been reduced due to a lack of proper help from the Government. So, the biggest challenge of the Government is to win their trust. The companies are also not very comfortable to resume work after relaxing the guidelines relating to the full-fledged blockade. They do not want to make any haste at the moment. The companies want to initiate the process of increasing manufacturing and service operations or production only after consideration. Therefore, the Government will also have to remove the sense of uncertainty about the future in the minds of the enterprises and labors. Subscribe chauhansameer.com to read the latest opinions and editorials.