Moving towards self-sufficiency

11 APR,2021 | MEDC


 

Under normal circumstances, investments attracted to industries enjoying tariff protection are necessarily inefficient. But these are not normal times. A certain amount of protectionism to various sectors and players is the need of the hour. The secret of success is knowing where to draw the dividing line. In recent years the government has offered a slew of incentives to Corporate India, and if domestic industry steps up to the plate, it will lead to a win-win situation for all. If not, the move towards self-sufficiency will be thwarted and policymakers will be back to the drawing board. The adoption of digitalization has been swifter than expected, and if entrepreneurs can deliver results rapidly, Atmanirbhar Bharat will become a reality. The fundamentals of the economy remain strong. Better than expected tax revenues could be used to bolster our fiscal position. For both the public and private sectors, there is a real opportunity to deliver results in the national interest, and it should not be frittered away. 

*Photo Credit: Google

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