Human-centric development is the need of the hour
Every country across the world is struggling to grapple with the crises due to COVID 19. Like all crises, this too presents an opportunity for pathbreaking reform, re-aligning priorities, and reconfiguring policies to address the economic slowdown and enable the revival of businesses. In order to achieve the objective of “human-centric development”, that the Prime Minister identified while addressing the USISPF Leadership Summit earlier this month,
A calibrated but a fresh approach is required to balance between welfare economics and leverage investment (both local and foreign).
Recent economic reforms by the Indian government have signalled an increased focus on improving the business environment and a desire to spur foreign investment. Investment drivers like relaxing FDI norms or the procedural compliance simplifications under the tax regimes, allows momentum to improve the business sentiment. A slew of measures for the agriculture sector including the recent Farm Bills clearly indicates that the current Government want to convert this pandemic/ crisis into an opportunity for farmers. These reforms are well intended and welcomed by most.