Author
The author is a senior economist, columnist, author and a votary of inclusive development
People must reward those with courage of conviction to sustainable reforms, however unpopular. Similarly, the leaders must look beyond election, focus on building trust, and when in power exceed the expectations of the people.
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This may rightly tilt the balance of power in favor of the customer and ultimately persuade the manufacturers to a more holistic, symbiotic ‘reparability’ model.
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India needs an enabling policy ecosystem, cored around strategic alignment between key
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Government must obtain timely procurement, ensure holistic pre-project approvals, assure sustainable and transparent revenue stream. Private sector on its part has responsibilities too. It should bring in new technologies, implementation expertise & capabilities commit finances, ensure quality.
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Under this background the launch of e-RUPI, a digital ‘delivery centric’ person-purpose-specific mechanism brings hope.
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In an uncertain economic backdrop, despairing outlook, and several sluggish indicators (revival green shoots notwithstanding), the stock markets are near all-time high.
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The ministry must govern and guide; not direct, not overreach. It must be a catalyst, and not the command centre of the sector.
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Amid the extraordinary calamity, the Prime minister must reach out, ensure the healing touch. In a ‘deprived and scarcity’ environment nothing works better than a sense of financial security, and the confidence that the state will ‘provide’.
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Low social mobility fortifies several outcomes including health, education, achievement and income. The frailty of the ecosystem further diminishes efforts, erodes value.
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In a global economic setting where both capital and jobs migrate, the reward for good governance is greater than ever before. Penalty is equally severe.
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