Next government would need to fix the economy first: Report


Mumbai, May 23 (IANS): The macro-economic situation has been mixed by the end of last fiscal, needing direct intervention by the next government in areas such as agriculture, employment and the banking sector, a report said on Thursday.

The Care report said the government must look internally and fill all vacancies that have been on hold. For private sector employment generation, the government needs to focus on the SME segment as well as start-ups so as to increase the opportunities.

"But we need to ensure that core manufacturing takes place and not just assembly of components," the report said.

On agriculture the report in order to reduce reliance on monsoon for agriculture production, the impending ambitious project of inter-linking Indian rivers should be pushed as it can be a long-term solution for the agriculture-related issues.

On the banking sector, the report flagged that the sector is going through challenges of capital and asset quality. "The banks continue to be affected by the delays in the NCLT resolution process. Hence a review of the NCLT procedure with the view of speeding up the process, seems necessary.

"The IBC may need some amendments as the rate of resolution of bankrupt companies can be improved," the report said.

The report said the government has been the main driver of capex in the last 2-3 years and the steady pace of investment should continue.

"The focus must now be on reinvigorating private investment and here it would be necessary to review the clogs that are in the way of investment," it added.

  

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Comment on this article

  • Vincent Rodrigues, Katapadi/Bangaluru

    Fri, May 24 2019

    The government may do well this term by harnessing their experience from the first term.

    DisAgree Agree [2] Reply Report Abuse

  • NN, NN

    Fri, May 24 2019

    India has one of the best electoral systems in the world. Opposition is always good in the best interest of the county. Once the majority forms the government, it is duty of every citizen to support the government. It is also the responsibility of winning party to include minorities in governance. That is the beauty of democracy.

    DisAgree Agree [4] Reply Report Abuse

  • ad, mangaluru

    Fri, May 24 2019

    Modi is unable to fix the economy. He is unable to create jobs. He is unable to help farmers and the poor Look at his previous term. Rahul was less than effective in conveying this message. He tried to focus on Modi and his personal attacks on Gandhis. Modi was tricky. His whole campaign was run on attacking Pakistan. In fact he did nothing new but he planned it such a way that Indian electorate will fall for this as Pakistan is considered as enemy of India. Indian electorate were dumb founded and fell for this Showman MODI.

    Rahul is a good politician unlike crooked politicians.

    DisAgree [2] Agree [6] Reply Report Abuse

  • flavian dsouza, chik/bengaluru

    Fri, May 24 2019

    Jaitely will fix any report !!!economy not sure who can fix

    DisAgree [1] Agree [6] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, May 24 2019

    If a Terrorist & Murderer can become an MP in India,
    Only Prayers can save India ...

    DisAgree [3] Agree [7] Reply Report Abuse

  • Aubb, India / Kuwait

    Thu, May 23 2019

    Modi promised very big things during 2019 election campaign with two motives :

    (1) hoping for clean victory thinking that people will believe him this time also.

    (2) In case he lost the elections then Congress will suffer badly if they do not continue his programs
    due to not having sufficient funds as he had himself bankrupted the economy beyond repair.

    Since he won, contrary to his own expectations, now, he will have to swallow the bitter pill himself.

    DisAgree [3] Agree [23] Reply Report Abuse

  • Mr Clean, Mangalore

    Thu, May 23 2019

    Before fixing the economy govt should create a conducive atmosphere of peace, stability and certainty. Business and economy can never flourish in a chaotic environment. BJP doesn't want to achieve this fundamental requirement so we can expect worse than what we experienced in past 5 years. We will be another Pakistan then Somalia. Only Modibaba and his 40 Chors' economy will grow unconditionally. Be prepared for Modi Misery 2.00.

    DisAgree [4] Agree [29] Reply Report Abuse


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