Another booster shot coming to revive Indian economy, PM Modi may himself unveil some steps
NEW DELHI: The govt is likely to soon announce fresh measures, including big-ticket infrastructure projects and policy changes, to make local industry more competitive, as part of efforts to rebuild the economy in the wake of the coronavirus pandemic, said people with knowledge of the matter.
PM Narendra Modi may himself unveil some of these steps, which could also include an initiative to reorient the tax administration, said government sources. The measures could be announced as early as August 13, they said.
The move to make industry more competitive will be part of the Atmanirbhar Bharat Abhiyan, or self reliance campaign, they said. This latest package will follow the Pradhan Mantri Garib Kalyan Yojana and Atmanirbhar Bharat revival programmes that were announced earlier.
提高工业竞争力的举措将是“印度自力更生”倡议的一部分。最新的一揽子计划将延续早先宣布的“Pradhan Mantri Garib Kalyan Yojana”计划（穷人福利救助计划）和“印度自力更生”复兴计划。
“The first two sets of measures were to provide cushion to industry against the Covid shock,” said one of the officials. “This set of measures would focus on rebuilding.”
Proposals being firmed up include a more digitally focussed tax administration, the enshrining of taxpayers’ rights, frontloading of defence purchases and expediting spending on key infrastructure projects that will have to be completed within a deadline, said the people cited earlier. The thrust of the proposals on manufacturing side is to enhance domestic industry’s competitiveness while making it easier and more attractive for foreign manufacturers to set up operations in the country.
Tax administration reforms will add to the draw.
Data released on Tuesday showed industrial production contracted 36% in the June quarter.
The package is based on inputs from global manufacturers on what would incentivise them to set up factories in the country. A broad framework to make the country self-reliant and boost local manufacturing is in the works, another government official said, confirming that deliberations have taken place to this end. “These are likely to be a mix of supply-side as well as some to spur demand,” he said.
The government has raised tariffs on many products and stipulated import licensing for others, which will make overseas goods expensive in the hope that this will encourage domestic production. The Pradhan Mantri Garib Kalyan Yojana was announced soon after the nationwide lockdown was implemented at the end of March and provided free foodgrain and cash payments to women, poor senior citizens and farmers.
政府提高了许多产品的关税，并规定了其他产品须获得进口许可，这将使海外商品变得昂贵，政府希望以此鼓励国内生产。在3月底实施全国封锁后不久，政府宣布了Pradhan Mantri Garib Kalyan Yojana计划，并向妇女、贫穷的老年人和农民免费提供粮食和现金。
The Rs 20-lakh-crore Atmanirbhar package in May unveiled a credit guarantee scheme for MSMEs as well as key reforms for the farm sector, among other steps. Rural demand has remained strong on the back of support from the first two packages. The next set of the measures are likely to focus on securing jobs in urban centres by providing backing for businesses.
译文来源：三泰虎 http://www.santaihu.com/p/50554.html 译者：Jessica.Wu
Whatever happens, ultimately genuine tax payer suffers.. rich become richer and poor become poorer.. Inflation remains high and Indian currency getting devalued.. It is happening since 1947.. So saving money for future is not making any sense.. Intelligent people and Ultra rich move out of India..
Another week another episode another jumla.
When ever this guys are comming with package or budget markets will crash....
We need to look at result oriented solutions rather than clinging to our age old tradition of not allowing private players to compete with Government controlled agencies. Why corruption is growing in India? Even a municipal Councillor takes bribe to give a certificate to a person.
Whether the data shows or not India was in recession since the Modiji took over the India's economy, and now it is slip to depression the worst we have not seen after 1947.
how many booster dose/shot a sick person can bear . steroids overdose kills the patient...
Donot keep on barking at previous govt,tell me what you did after seven long years!
Government has to act on all fronts to establish India as a 21st century hub for future technologies in manufacturing.
Moves to strengthen economy are timely and should be introduced without further delay. Twin factors namely Coronovirus pendemic and deteriorating relations between USA and with Hong Kong losing its position as free trade outpost have given golden opportunity to attract foreign direct investment f.WTO agreements do provide use of NTBs, Anti-dum , imposition of duties and other restrictive measures and India should take full advantages as permissible.
All said and done ,he is a bad luck man.All problems came when he became PM.
Soumya Ranjan Panda
Middle income group people are major looser in this 7 month lock down.
No doubt India is steadily recovering from the lock down shock from end March to June. Notwithstanding the fact that the pandemic is moving at an accelerated pace against all efforts to contain it, country is now trying to balance between life and livelihood. Sate Governments have the flexbility to tweak their own measures to contain spread of the virus. Equally accelerated recovery rate and and continuously reducing death rate reflects that the herculean effort put by every state is bearing fruits. Now the focus is rightly on reviving the battered economy with out any let up on fighting the killer.
All the required inputs to reform the economy,improve the quality of the life of its citizens is there available with several commission report piled up in the bureaucrats cupboard gathering in dust.
All that the PM has to do is to remove the dust and making a bold announcement which the nation has been so so patiently waiting in the last six years.
Do what you want to do. Economy will recover only and only when you decide to STOP CHINESE virus. Till then every step will BACKFIRE with Equal force.
More empty promise
All publicity and no action. The earlier so called measures are no measures at all.