{"id":16431,"date":"2020-10-04T09:24:48","date_gmt":"2020-10-04T09:24:48","guid":{"rendered":"https:\/\/plyinsight.com\/?p=16431"},"modified":"2020-10-04T09:24:48","modified_gmt":"2020-10-04T09:24:48","slug":"economy-slow-reform-process","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/economy-slow-reform-process\/","title":{"rendered":"Economy: Slow Reform Process"},"content":{"rendered":"
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Economy: Slow Reform Process<\/strong><\/span><\/h3>\n
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Now that lockdown is being opened continuously to save the livelihood of the people, making vaccines and getting it to the entire population as soon as possible is the only way to prevent infection. This is a big job. As Nandan Nilekani said in an interview, it took five years to enroll the base of one billion population but vaccination can be done quickly. Vaccine users can be trained and certified online. Technology will play an important role in this whole exercise. However, there is still time to make the vaccine and it is not clear how soon the vaccine will be available in the country. But the government will have to be fully prepared.<\/p>\n

Meanwhile, its impact on the economy will be much higher than previously estimated. Because the localized lockdowns will affect the production chain and the reform process will be slow. The Indian economy grew by 24 per cent in the first quarter of the current financial year. Production decline was higher than anticipated. Most analysts are now missing full-year estimates. Sharp indicators such as the Car Sales and Purchasing Managers’ Index have improved, but it remains to be seen if this improvement continues. Continued growth in transition will disrupt both demand and supply. Supply sector shocks have pushed up inflation and this trend may persist in the coming months as well. As a result, the central bank will not be in a position to support economic activity by reducing policy rates. Not only this, the problem of double balance sheet will increase further. Reserve Bank One-time restructuring of the loan is allowed. But there is no clarity on recapitalization of public sector banks.<\/strong><\/span><\/p>\n

In such a situation, it would be expected from monetary and fiscal authority to come up with some constructive measures. The Goods and Services Tax (GST) issue is an example of new challenges. The central government has recommended to the states that they should complete the reduction in GST by borrowing. It can be repaid by increasing the cess. But many states have denied this. In addition, it will be necessary to prevent incidents of bankruptcy on a large scale and to provide consumption support to the poor. The government will need more resources to fulfill its obligations and help the economy. In such a situation, he will soon have to prepare a revised expenditure blueprint and find ways to raise additional funds. On the other hand, one year is going to be in the field of education. Overall, there is an all-round chain of bad news and they do not even see the end.<\/p>\n

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Economy: Slow Reform Process Now that lockdown is being opened continuously to save the livelihood of the people, making vaccines and getting it to the entire population as soon as possible is the only way to prevent infection. This is a big job. As Nandan Nilekani said in an interview, it took five years to […]<\/p>","protected":false},"author":1,"featured_media":16436,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[779],"tags":[],"class_list":["post-16431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-september-articles-2020"],"yoast_head":"\nEconomy: Slow Reform Process - PLY INSIGHT<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/plyinsight.com\/hi\/economy-slow-reform-process\/\" \/>\n<meta property=\"og:locale\" content=\"hi_IN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy: Slow Reform Process - PLY INSIGHT\" \/>\n<meta property=\"og:description\" content=\"Economy: Slow Reform Process Now that lockdown is being opened continuously to save the livelihood of the people, making vaccines and getting it to the entire population as soon as possible is the only way to prevent infection. This is a big job. 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