CORONA 19 Impact on Economy- Economic Task Force –Plans to enable – Jump Starting Economy- Few suggestions
To contain the economic impact due to Corona Virus Pandemic, Hon’ble Prime Minister Sri Narendra Modiji, formed COVID-19 Economic Task Force led by Smt Nirmala Sitaraman, Hon’ble Finance Minister with three other members. This Task force will ensure and advice the Government indicating the details of Steps to be taken under economic front to tackle the Challenges. Though the existing Physical Infrasture is not disturbed due to Covid 19, across India, It is a fact that there are some disturbances to existing Jobs/new jobs creation factors under mfg sector and Agri- Sector produce marketing factor and few indices under human development factor ie. Under health sector, and poverty factor
. As per media reports that as an Exit route, the Japanese Govt is contemplating to fund its Firms now based in China, to shift its productions units out of China. Re-location may happen in India, if the Govt of India takes lead to capture this developments by creating healthy atmosphere for this new investments from Japan similarly of USA, and this will create of thousands of Jobs. To support Rural economy, more to concentrate on rural capital formation, Agri sector. It is my opinion that Farmers be supplied with Seeds,Fertlizers free of cost/at subsided rates to the quantum as required for his actually holding as per his revenue records. The Govt. to reimburse the difference between actually paid by the Farmer and Govt notified subsidized cost through transfer to their Bank accounts similar to LPG subsidy is being credited to the LPG consumers . AT least for the next two years all trade agreements are to be kept in pause mode, to concentrate more on “My Bharath” immediate requirements.
My suggestions to State Government Karnataka are-
To contain the post corona economic situation under mfg front, and for job creations -, it is forecasted and evident most of the Global Companies will relocate to other countries from China, especially to India . It is suggested The Karnataka Govt should also form Post Corona virus impact economic Think Tank Task force containing experts, to advice the new initiatives as how to arrest Job loss and for creation new jobs especially under mfg sector by the State Govt and action plan guide lines to capture more investments from the companies migrating from the China. This will also boost investment atmosphere in the state of Karnataka- during INVEST KARNTAKA 2020 Meet-INVESTOR FREINDLY state. Similarly Agri sector is also to be funded more, as more youths now returned to the Villages. Dedicated Agri-Summit is to be planned similar to Karnataka Investment summit to attract investment , will add value to the rural economy as their produce fetch more price to their produce.