3rd December 2022
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TUMAKURU:SHAKTHIPEETA FOUNDATION

CORONA 19  Impact on Economy- Economic Task Force –Plans to enable  – Jump Starting Economy- Few suggestions       

                                                -T.R.Raghothama Rao,

                                                tr_raghothama@yahoo.com

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.