Impact of COVID-19 on Indian economy
Due to increased unemployment and low salaries, many people did not have much money. There was decreased spending on non-essential items. So, consumption fell, and as a result, an economic slowdown occurred.
Development Finance Institution
Setting up of Development Finance Institution is a good step because it is very important to fix the infrastructure issues in India. But the government must take steps to prevent the repetition of the same mistakes that caused the closure of earlier DFIs. There should be transparency and accountability to make DFI sustainable.
Gig economy
What is Gig economy: Gig workers take short-term contracts and will be paid for that.…
Atmanirbhar Bharat Abhiyan
Atmanirbhar Bharat Abhiyan is very much needed for India to transform itself into a self-reliant country. But this may not be sufficient to revive the economy and to rebuild livelihoods that are affected by the pandemic.
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How to create more jobs in rural areas?
Jobs creation in rural areas is also an important step in preparing for future pandemics because it can prevent severe damage to the economy. Strengthening the agricultural sector, encouraging non-farm activities, establishing service sector companies, clean energy industries in rural areas can create plenty of job opportunities.