Ways Forward In Various Sectors Post The Covid’19: Debate

These times are unprecedented, and at this point every person it attempting to survive these tough times. Therefore aid from the government is instrumental in enabling the economy to move forward. Each person on the panel represented a particular sector, and a unanimous appeal was that while the package given out by the finance minister will be helpful, its execution, and it being timed correctly is of extreme importance, as only if people can comprehend and receive help, will the economy grow further away from the negative economic impacts braced in order to fight this virus.

In the Atmanirbhar series: Big Bang Economic Reforms, by BW Businessworld NewX Primus Partners on May 19th, several people of the likes of: Sudhir Mishra, Founder and Managing Partner, Trust Legal; Paul Dupuis, MD and CEO, Randstad India; Amit Kapoor, President and CEO, India Council of Competitiveness; Mukesh Mohan Gupta, CEO, MSME ki Pathshala; Amit Bagga, CEO and Co-Founder, Daryaganj Hospitality; Sadiya Naseem, Founder and CEO, Glam Studios; Charu Malhotra, Co-Founder and MD, Primus Partners India; Kartik Radia, Managing Partner, Mazara India; Deepak Kapoor, Director, Credai Westen Up Gulshan and Dr. Anurag Batra, Chairman and Editor in Chief, Business World; discussed the implications of this virus on several sectors of society while keeping in mind the packages and aid provided by the government.

Sudhir Mishra outlined how his primary ‘worry” is that everything is at a “standstill”, and that it is crucial that the “package moves of the ground”, so as to reach the people in dire need of help. He further mentioned how a central force in needed, as now everything has “been narrowed down to district magistrates and officials”.

Adding on the claims presented by Sudhir Mishra, Paul Dupuis highlighted how to “protect the unprotected is the need of the hour”. These times present several “opportunities for India”, and greater emphasis will be placed upon “self sustainability and reliability”. He added that greater clarity is required in terms of the package, and “the manufacturing industry” is arguably one of the most hardest hit.

Amit Kapoor discussed how it is vital that “demand is generated, and structural reforms are in order. All the panelists focused on how the execution is very important, and the implementation of the package is to be done. Dr. Anurag Batra agreed to this feeling along with pointing out that this “package is only the first installment, and more will come. People are not very happy with how everything is progressing so far”.

While Mukesh Mohan Gupta talked about how migrant workers should not be called ‘migrant’, as they are an integral part of society, wherever they are living, and it is sad that they are leaving cities despite spending a lot of time working there. He also mentioned how government needs to “pay money due to MSME’s”.

When the implication of the packages in various sectors was discussed, Amit Bagga stated that his “sector was totally ignored”, and the government should send in indirect help. Building onto that point, Sadiya Waseem talked about how there needs to be ‘awareness’ and ‘policy clarity’, as small entrepreneurs, small salon owners and their workers are at a complete loss”. She questioned ‘how easy it is to get help’.

Chara Malhotra, when discussing the implications of the package and the virus on the education department talked about how ‘innovation’ is taking place and online schooling is a potential option. This is a time to “push online education”, and the ‘economy cannot afford a learning crisis”. She also talked about how bringing forth questions like “who is being left out, and are people technology resistant or technology resilient is imperative.

Kartik Radia stressed on how vital it is that “an overall impact assessment is conducted sector by sector, and that one should not worry about fiscal deficit at this point”. Deepak Kapoor reiterated several times that there are way to many ‘terms and conditions”, and way too many “ifs and buts”. “The reforms will be good, only if implemented on time”, he further added, highlighting how even if everything looks good on paper, unless it is turned into action, it holds no real importance in the lives of those direly affected due to this virus.

Therefore, it is visible that while the government has initiated work in few sectors it is not enough, people want details, and the execution of the plans talked about.