A war is about to wage; not the current one against the deadly corona virus, but the one that will take place after it’s all over. We are aware of the global recession that all nations will be subjected to post-lockdown. However, other than the upcoming recession, India can actually look forward to a certain amount of development. You must be wondering, what kind of development would this be? Well, India may be welcoming the development of a few sectors and industries as a result of many countries shifting their manufacturing and assembly units from China to India.
It is quite obvious, that China becoming a source of the origin of the virus has caused many nations to look for alternatives. Even if this shift will prove to be beneficial for our country, there are some serious changes that need to be made to allow this development.
Fight the mindset:
Sometimes the solution for growth is by not removing someone but providing them with equal care. Equality has proved to be more profitable than most other solutions. This is why the government of our country is requested to tax everyone equally. This includes large businesses as they possess the ability to take on larger amounts of risk. The risk that is taken by these industries creates an impact that helps supporting industries to increase the number of jobs available to the people.
Capital for the Housing sector:
Even though the Housing sector remains inactive currently, they may want to rise after the coronavirus. During that time, in order to survive and provide employment to labourers as well as buy raw materials they will require funding. Providing them with capital may prove to be a bit risky for the banks, however, a little leeway now may go a long way. The government can also take the step of reducing tax on residential property for the next five years.
Step out of poverty:
India needs to come up with several measures to fight the poverty that exists within the country. However, some may say “the country has taken several measures to fight the causes of poverty.” However, people may be surprised to hear that India is probably just somehow managing to survive in poverty instead of eradicating it. If the country wishes to develop after the global pandemic is over, then stepping out of poverty is necessary.
Financial offenders have caused the country to be unable to believe anyone who approaches, even if they harbour no such ill-intensions. India needs to put their faith in all who wish to rise a bit more, for these industries may turn out to be helpful in generating employment. If the country’s entrepreneurs are worried about where they will get access to financial resources then maybe India needs to reassure them, then it will prove to be a helpful measure in fighting these moments of financial crisis.
These are few of the many measures that India needs to take in its state of war against the crisis that will arise after the pandemic. There is a huge opportunity that awaits, that India simply cannot afford to ignore.