Indian economy 2017 – in a churn

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Huge changes are afoot in the Indian economy in 2017.

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Indian economy 2017 – in a churn


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What P.V. Narasimha Rao did in 1991 was as radical as what is needed today. India needs to be transformed fundamentally if growing unease is to be shaped positively. India in 2017 has big changes coming its way – the G.S.T., new Budget date, a single Budget. Indian budget preparation exercise is intricate, detailed and multifarious. Various industry bodies (Assocham, CII, FICCI etc.) actively suggest changes to government. A challenge for India post 2013 has been the moribund investment sentiment. It hurts! All industry bodies have made suggestions, the broad gist of which is as follows – 
  • The PPP model needs a huge push now (it nearly collapsed by 2013/14).
  • Kelkar Committee recommendation are pending on revitalising infrastructure PPPs.
  • Informal sector dominates totally, but we have to focus on quality jobs in formal sector.
  • Not too rigid and Not lacking protection – a golden mean required in employment
  • India has to invest heavily in technology (company-wise & institutional)    
  • Tax base rationalisation can prove dramatically effective if implemented properly
  • The PSU disinvestment targets are unmet since years. Huge locked potential.
  • Making India competitive in the long run through real reforms, not mere touch-ups
Demonetisation has created a big change in the economy. Adequate followups can do wonders. With a huge demographic dividend, India is looking for right channeling of energies. Otherwise? Low growth, poor skills, low per capita income, rising wealth inequalities.   
 

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Bodhi Booster: Indian economy 2017 – in a churn
Indian economy 2017 – in a churn
Huge changes are afoot in the Indian economy in 2017.
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