Planning a Booster shot for Indian GDP

In the recent past, the central government has introduced various reforms in different sectors with the intent to fortify the development of the nation economy and generate more job prospects for the unemployed and underemployed.

The latest in this series is that the central government is started working with different countries with the primary emphasis on development of diversified technologies and various sectors with the objective to reinforce the growth of the India’s gross domestic product (GDP) to drive India towards becoming a USD 5 trillion economy in the coming years.

Accordingly, the Ministry of Commerce has sent proposal to cabinet to foster funds (Rupees 50 billion) into 12 champion revenue and job generating sectors to reinforce the prospect of economic development of the country.

As per the latest reports, a task force constituted by the central government already started working with Japan and few other countries with the prospect of strengthening existing technologies and developing technologies that would emerge in the future.

As part of its endeavours to reinforce the economy of the nation, the central government is working on different policies related to diversified revenue and jobs generating sectors. New Agri-export policy has already articulated with the objective to enhance farm sector income and boost the prospects of exports sector.

The new policy enabling aircraft manufacture in India and drone manufacture will also be rolled out soon along with a new Exim policy.

The government underlying plan is to enhance the GDP of the districts which will obviously aid in fortifying the GDP of the nation as a whole. Initially, the plan is destined to be implemented in 6 districts only – 2 of 6 districts are located in Maharashtra.

The encouraging factor is that the fintech policy unveiled in the Maharashtra state is already paying rich dividends as the state is getting numerous business related proposals – which will fortify the employment prospects in the state.

It is hoped that the serious implementation of the existing and proposed policies related to different revenue and jobs generating sectors will certainly aid in the swift development of those sectors – which will in turn aid the nation in the accomplishment of targeted GDP by ensuring more job prospects to the unemployed and overall economic development of the nation.

Research inputs by Paruchuri Baswanth Mohan