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A credible industrial response during the coronavirus lockdown will translate into better provisioning for India’s overall healthcare sector in future.
Contrary to China, whose post-1993 growth acceleration was concentrated on the manufacturing sector, India’s growth was service driven.
Policies must be made after much debate, by experts with feet on the ground. Politicians need to take responsibility and inform businesses early about changes.
This would make the rupee stronger, further putting the manufacturing sector at a disadvantage. And that would mean lack of domestic jobs for millions of youth.
Financial incentives such as preferential tax rates and the tax holiday provided by Vietnam to lure companies are among some measures being considered by India.
The IMF forecasts that six of the top 10 fastest growing economies this year will be African given its immense potential in the manufacturing sector.
African development is key to a stable world. For if it remains underdeveloped, Africa, with its exploding impoverished population, will fall prey to climate disasters and wars.
Data released by the Central Statistics Office said the improved growth will be thanks to agriculture and manufacturing sectors.
Reduction of employment-generating tendency of economic growth has been especially marked in the last 15 years
The government has hiked import duty on 19 items, including washing machines, air conditioners, footwear, diamonds, jet fuel, as part of its plan to reduce the current account deficit (CAD) and arrest the fall of the rupee. ThePrint asks- Duty on 19 items increased: Back to license-Raj era or essential to cut down import bill? https://youtu.be/aI_Lh83IN-c Govt response to falling rupee shows inability to diagnose disease Narendar Pani Professor, National Institute of Advanced Studies The government’s response to the depreciation of the rupee has mixed a touch of realism with an inability to diagnose the disease. Unlike what economists who have controlled the narrative since 1991 would have us believe, liberalisation has not delivered all that it promised. The vow of making India a globally competitive economy is still far from being realised. Exports in dollar terms in 2016-17 were in fact 12 per cent less than in 2013-14. With expectations of export-led growth belied, liberalisation was...