A viable recovery plan

01 JUN,2020 | MEDC


 

India’s economic growth slumped to 3.1% in the March quarter, which is the slowest pace in over a decade. However, the stimulus package offered by the government does offer a real hope for a sustained recovery. The package endeavours to make most activities economically viable by facilitating direct access to markets rather than encourage dependence on intermediaries. After all, more often than not, it is the middlemen who have thwarted the prospects of achieving genuinely inclusive economic growth. This economic stimulus package presented in five tranches by the Finance Minister is refreshingly different in that it is a sincere attempt to enhance the common person’s direct involvement in economic processes, rather than simply make them eligible for more and more government largesse. That is probably its biggest achievement. As the ancient Chinese saying goes … Give a man a fish and you feed him for a day. Teach him how to fish and you feed him for life.

*Photo Credit: Google

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