- As the depressingly demotivating GDP contraction of 23.9 percent for the quarter June to April 2020 was announced, the challenges confronting the nation vis-à-vis digging out of the economic hell-hole is not only multi-folded but also demanded unambiguous and uncluttered thinking on the part of the Governments concerned as also every other stakeholder expected to deliver on desired lines. Expecting miracles to conjure out of thin air without embarking on pragmatic policy measures would be foolhardy.
PC: Bents Dulcio
- The mind-boggling unemployment scenario largely on the back of industrial contraction that is picking up pace gradually now after six months of veritable inactivity requires immediate attention. The stuttering economy would do with more stimulus package from the Finance Ministry instead of bank borrowing alone to spruce up the tattered segment crying for much-needed resurrection. The country’s commercial landscape is largely dotted by MSMEs and it is incumbent to prop them up sooner than later.
- Reputed credit agencies are unanimous in forecasting nothing but contraction for the financial year 20-21 making it extremely incumbent on the Central Government to initiate measures to reassure the citizens of its resolve and plans. The states are in distress too as the GST mop-up for the fiscal year is way below expectation and the disbursal of compensation is already affected as announced by the Finance Minister. The states are staring at an almost empty coffer in the absence of adequate local revenue generation.
PC: S. Mahadevan
- In such a scenario, it is imperative to present a united front by the Central and State Governments to scale up revenue generation by concurrently adopting fiscal prudence and reform-oriented measures that stimulate long term growth trajectory as also addressing the short term concerns too. However, what is on display across the nation is petty politicking and bickering despite the surging dangers of the pandemic squeezing the healthcare infrastructure to unbearable proportions.
- Not to forget the Chinese transgression on the Eastern borders unremittingly reminding of the perils awaiting us what with two nuclear-armed nations fully armed to the teeth ready to pounce on each other at the slightest provocation. The situation on the border is extremely dangerous is stating the obvious. Unfortunately, what our political leadership in a few states is up to is not surprising at all. Hankering behind power, indulging in vendetta politics, asking agencies to probe an actor’s death, associated drug angle, media trial, vote-bank politics, blatant misuse of official authority, muscle flexing, etc. are hogging the limelight rather than strengthening the economy.
PC: Alida D.
- The situation at hand demands no less than collective efforts from each stakeholder holding the reigns of governance presenting a reassuring optics to the citizens who expect/yearn succor from the mounting hardships. Livelihood assumes paramount significance for the common man rather than jingoistic and egoistic one-upmanship between political masters being fought out so brazenly disregarding all semblance of civility. Address the concerns staring the nation at once for people’s patience is waning.