ECONOMIC POLICIES IN THE GLANCE OF PANDEMIC : CRITICAL OBSERVATION
BE READY TO CONDITIONALISE US WITH FISCAL MANAGEMENT THEORIES.
BY,
SUBIN.K
A financial affair of every country refers an outlook of the decentralized phase of peoples. The phase, directly or indirectly reflects the face of citizens who are residing under the structured territorial boundary of a nation. Every nation in the world, closely fluctuating with the close contact of unexpected events and which it all affects the living conditions and calm environment of peoples in a territorial evidence and for restricting the restless fluctuations the countries are focusing in the implementation of certain peoples plans, the language of economics , which explains it is policies. A policy which outweigh the life of men and dream the positive externality which maintain the structured administration in the country.
The, above descripting points actually a reflection of theoretical enhancements what actually seen in the bigger macro-economic perspective. We viewed that a severe and adverse covid 19 pandemic affected the lives and livelihoods of population in the world. Heart touching that, it is clearly a visionary for the global human population and also a biggest learning path for the global administrators. But meanwhile, we know that, countries took and still take effective steps to mandate the spread of covid 19 pandemic and also still announcing the measures to tackle or defeat the pandemic and while us all are sitting under a lockdown. This is the global situation, with this we need to understand the situation of India, and how the country tried to overcome financial crisis, subsequent to the covid 19 pandemic, thinking or working with this question, little of bit rigorous and time spending analysis is required and moreover we need a biggest and efficient methodology to plot the conditional zing the having question in the cognitive apprenticeship.
India is the second most populated country in the world. We know, public policy management regularities of India which is more efficient under the ministry of family and welfare affairs, and a continuing joint effort we lapsed the severe spreading cases of covid 19 from the initial stage also. But this is in the case of covid 19 management which still going a 99% of energy boosted environment, but the naked reality is that, the financial conditionality of India is not as much run in an efficient row and column. The matric values of Indian financial conditionality still raised with an increased government expenditures. The initial phase of covid 19 , government of India announced the special economic package of 20 lakh crore (equivalent to 10% of India’s GDP) with an aim of making the country independent against the tough competition in the global supply chain and to help in empowering the poor, laborers , migrants and who have been adversely affected by covid 19. The package is mainly devised to give a thrust to local manufacturing, and local markets and local supply chains. And it says, the package will become impetus to make in India initiative, and transforming the local Indian companies. This is the objective of the package and also looks that, the practicability and feasibility of crowding out effect of policy packages of Indian special economic package introduced the last may 2020. It still I believed a significant irrational announcement made by the government of India. The long term objective of atma-nirbhar bharath is not suitable in the short span of corrective measure stabilization policy for India. We need to stabilize the economy or unexpected shocks by implementing, short term stabilization measures, for the wellbeing of peoples incorporates with their expectations. Absolutely that’s correct, India is moving with an active policy by time to time they are enthusiastically takes energy to boost a critical environment inside the country. But what India argues that, all of these covid corrective measures put forward by the silently takes India in to a path of passiveness. This passiveness is affected all the sub sectors of the economy. One of the naked truths that, the government of India, said that, its nation is very truthful and friendly for making investments in MSME region and this will enhance the position of ease of business index and moreover, directly leads to improve ease of living index. But see that the, sectors of Indian economy which is mostly closed down with a contact servicing principle so this way, how can we attain these long term principles? The second package which already introduced by the government of India, economic survey of India and the union budget of 2021 and all others are devoted to the covid 19 relief and the government day by day boosting the expenditure policy through giving transfer of payments and intended to increase the aggregate production and consumption which automatically resilience the effective environment. Welfare programs and people happiness programs wellbeing measures all are increasing. Skill enhancement through kaushal vikas and moving partnership the skill India project and transforming India project are growing a concern. All expenditure system of government is taking its parametric value of possibilities and would implement the way in probability measures. But still we are confused on the revenue outcome of Indian blanket.
We are running with a ruin of deficit budgeting and in front of that deficiting outlook we always make a blowjob identity with constructed data’s. For what? Is that is good for Indian development motives? We need development for long ways. We need India for long days not in a short span. And notable that development is not among the wizard or magician frame of political administrators. It’s not a sorcerer trait of policy makers. It should an outcome of active and right measure which we took under the right attitude. So, if Any Unexpected events faced or not, it is ethics based duty of every public administrator.
Looking on the massive vaccination program and boosting productivity and enhanced employment theory of central government, I still confused with an out richness of cowin portal and the mechanization of machine and adaptive learning of thousands of sitting in front of gadget is enough to attain the wholesome objectives of our nation? Anyway, the financial matters not at all, limited. If we taking the ineffective ways, future generation are in vicious of ricardian equivalency and conditionalised we with management theories.
Is there India is rebooted on the strategic device of massive vaccination strategies, and should ensure the massive vaccination programme is effective in manner and correlate the ideas with community vaccination schemes rather than spending too much time on the online vaccination portal. Today whole India is spending too much of their production efficiency to register in the portal and also notable that the structural implementation of covid vaccination programme is too much difficult for the Indians, who are under in the low broadcasting surrounding.
With that, we need a fiscal stimulus or a wave which suitable for the enhanced environment creation for the future.so that I would suggest certain performance budgeting options for the correctiveness of our fiscal stability.
Measures to suggest
1. Boosting programmes like revenue creating options should implement.
For that, open all sectors of economy, by fastening the vaccination programmes inside the country and should revive the condition fruitfully.
2. Open up all contact based service and make productively sound and make a positive externality due in manner
3. Tax base of millions and billions should increase and find the sources of income through vertical equity as possible.
4. Welfare programs and paying techniques of transfer of payments should calculate a one second order and reduce the way of policy lags and works for the increasing of aggregate consumption.
5. All storage centers of government should and intelligently and make a fiscal spending.
6. In spite of borrowings, government should sell the government owned belonging through PPP programme and make the country in a welfare motive corporate country.
7. Development takes actively through the massive attainment of wide sum knowledge but due to these days of pandemic, child labor increases and violations are increased and due to that should focused on the education sector and make the teachers are pedagogically sound and change the system of education by taking innovative ideologies.
8. The fiscal and monetary system of our country requires a magic innovative methods rather than an irrespective so called theoretical orientation.
Every country generally faces this pandemic and most of them are strategically acted and revived from the vicious. But in the case of India, still it is confusion. However every crisis brings about a unique opportunity to rethink on the path undertaken for the development of a human being, community and society. The covid 19 pandemic has a clear message for the Indian economy to adopt sustainable development models which are based on self-reliance, inclusive framework and are environment friendly.
@_Su_bin_k