Formulating economic strategy

11 MAY,2020 | MEDC


The country has been in lockdown mode since March 24, and the chasm between Bharat and India is widening. Urban India is badly affected by Covid-19 and it is rural Bharat that offers hope for a sustained revival. Agriculture today accounts for only half of the nation’s rural economy – the other half comes from manufacturing and services related activities by MSMEs. Thus, any strategy for economic revival needs to put agriculture and MSMEs at its core. With India and Bharat having increasingly strong forward and backward economic linkages, developing an integrated strategy is imperative. With this year’s monsoon predicted to be normal, India’s policymaking effort will be simplified. Yet, we still need to work a lot on strengthening our administrative capability and institutional quality. That will boost the confidence of all stakeholders in our economy and enhance the ease of doing business. We should aim to emerge from this crisis with a measurably improved economic and institutional setup.  

*Photo Credit: Google

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