This article is written by Ritik Agrawal, from Institute of Law, Jiwaji University.
Table of Contents
Introduction
As Covid-19 spreads exponentially across the world and the figures for testing positive as also the number of deaths keeps increasing day-by-day, the economy/ G.D.P. of the world falls. This is because of both demand and supply shock. Shutting of factories, offices directly affects the economy rate. To promote, to stabilize the economy, or to develop India we need to make unity as well, the government, big enterprises, has to coordinate with the small and middle enterprises to facilitate smooth work.
India is at its tipping points, both in terms of economic growth, and human development of its more than 1 billion citizens. The country is the 6th largest economy in the world with a GDP of $2.6 Trillion in 2017. India is also growing its middle-class family and also lifting the 25% of the families out of Poverty.
Health sector as an economic opportunity
At this adverse time of the pandemic disease, Covid-19, our country’s health situation is drastically changing. In today’s era, the environment is changing, with the changing of the environment many people are affected by various diseases. Due to this, the people have to face problems because proper health care centers as well as doctors are not available. To promote the health sector of the country which is the essential element for a boost of the economy, the government has to appoint more and more doctors, surgeons, dentists, which are to be specialists in their course. Medical institutions, colleges should prepare the specialization course of a maximum of 2 years for small cured diseases.
The Government/ College Ministries or Unions should also ensure that the Professor should to be eligible to teach the students, the Professor should be a well-known Doctor. Appoint as many professors, doctors for improving health structure as well as providing economic opportunity.
In India, Ayurvedic Medicine is a panacea, which we can export to other countries for increasing Foreign Currency. Ayurvedic is very well known all over the world, people are adopting it, India should educate their people in this field so that, the people can practice in other countries as well to provide Deshi Jadibooti to all the people. Yoga is a mind and body practice with a thousand of year history in ancient times Indian Philosophy. As our Yoga Guru “Swami Ramdev” promote Yoga nationally as well as internationally. So for the economic growth of a country, Swami Ramdev and the government can start a Yoga Live Classes which will be paid up classes which improve the health as well as boost the economy in the country. Yoga institutions can also be developed which provides a physical as well as mental education to the people.
“Take care of your body, It’s the only place we have to live.”
Education sector in boosting economy
The Indian education sector is at its crucial stage in its growth phase. The country’s demographic advantage of a large young population presents a huge opportunity for players in the education sector, various initiatives have to be taken in 2020 for skill development or to innovate the financing to encourage research output.
Education is the key essential element of a developing country. If people are educated, they are very well aware of their health, the economy of the country, etc. Due to Covid-19, the Indian Private Institutions giving the online classes to the known students of their institutions.
Hence, we know that Private Institutions in the education sector are very expensive. So due to this government has to run their institutions for the benefit of the low economy or poor class family students. The government has to provide some benefits as private are providing so that it will return in the future. India is the big hub center of Ayurvedic Medicine, so the government can also provide education to medical students so that students can use it in a very prosperous way to make the various medicines for diseases and export it all over the world.
India is very well known about Native Herbs, if India will get perfection in ayurvedic medicine education, it can make an education center outside the country, so that there will be an economic boost in near future. In most of the country, there is a free primary education by the government as well as the private sector, Indian education should adopt it which also minimize child labour. India is very well known for its vegetarian food, like foreign countries are also adopting this culture to stay healthy as well to protect endangered species and the environment, India should take this benefit and develop its hotels, cafeteria, etc in outside the world for vegetarian food. Indian should also educate its people in the Hotel Management course, cooking course, etc so that they can get employment opportunities from outside the world also.
“Education is a key role of all success…
India is very well known for its historical monuments all over the world, the contribution of tourism has remained largely grown for many years. But due to this pandemic disease, tourism, as well as the industrial sector badly damaged and it leads year to grow in the tourism and industrial sector. India should adopt the New Tourism Sector scheme to promote the tourism sector of the country, Government with collaboration with the private sector secured the historical monuments tourist places and also specialized the Guide and provide the Free-up Guide to make sure the social distancing as well sanitization or cleanliness. The tourism sector can increase the tourism package so that many facilities provided to them and also leads to helping to stabilize the economy. The Tourism Industry should draft a limitation of foreign peoples in visiting the country and also make limitations in visiting the historic monuments or for a visit purpose. India should provide them a proper sanitization kit (Mask, Sanitizer, Hand Gloves, Hair Cover Cap, etc) to protect their health status and also promote the cleanliness of the country. It also leads to an increase in the employment opportunity sector.
Indian Industrial development is a very important aspect of any economy. There are many types of industries in India like as, Manufacturing, Mining, Quarrying, Natural Gas, Electricity, Water Supply, Textile, Food, etc. Though these industries are provided around 25% of India G.D.P. Due to this pandemic disease, this rate is slashed down or outbreak so to promote it or to stable the economy as before the government has to make a plan for it. The government should make some plans for local entrepreneurs or middle-class family businessmen to grow the local industries in a country. The government should also provide a loan to a start-up entrepreneur at a negligible interest and also slashed down the Tax rate to overcome from this situation.
Handloom industries
India is one of the largest unorganized sectors in handloom industries. It provides greater employment opportunity in all over the country, Surat is very well known for its textile industries, approx 20% of the total cloth produced in the country, raise awareness about handloom industries around the world to promote it and to stabilize the economy as well.
“Raise your Awareness, Show your uniqueness to the world…”
Way forward: Strengthening data security structure
India’s digital applications are governed by obsolete laws, which is unsuitable in the context of today’s digital scenario. The government should have to frame out the strong laws for strengthening data security. There should be another law for Modern Digital Platforms or applications like as, Information Technology Act, 2000. In today’s world, Data is a problem of an Information age, like as Protecting Privacy is an Environmental Challenge.
The ban has created a new channel for the Indian Scientist, Engineers, and Researchers as well to upgrade the technology of India. It is the 21st century in which most countries depend on Data or Technology, India should have to modernize and upgrade the technological sector for the rise-up of the source of the economy.
Need for modernization of the data platform
Business needs are leading to substantial change in the data environment as well, and should be the ultimate driver of modernization initiatives. The need for innovating the data modernization is to increase the efficiency and effectiveness of the Indian Scientist, Researcher by way of providing a various platform like a desire to learn machine language, artificial intelligence, or to data analytics, for improving the digital structure of India. The need to modernizing data using the Internet of Things, or increased security and privacy concerns. Several countries that have successful data modernization have following the common attributes. They include the Involvement of company business executives like C.E.O, Chief Information Officer. A well-defined process, typically involving a set of “Imagine” activities to design the new data environment; “Implement” activities to design, develop, build, test, and roll out the modernized capabilities.
Role of agriculture sector in the economy
Agriculture plays a vital role in boosting the economy, over 70% of the population depends upon the agriculture sector and it contributes about 15% in G.D.P. To improve the agriculture sector, provide pesticides, land, labour, costs at a low rate. The Government can earn more valuable foreign exchange by the export of agriculture products. COVID-19 has radically transformed lives. Firstly, the biggest consequence of the COVID-19 outbreak is the transformation of the way we work. Some of the large Work from Home (WFH) experiments are underway leading the world to radically rethink traditional work assignments. Secondly, the impact of this pandemic on global supply chains is witnessing the unprecedented disruption of the type which the world has never seen before. Thirdly, we will see the phenomenal rise of telemedicine. The Indian health system is characterized by a severe shortage of doctors and health practitioners. Public Areas, Historic Monuments should be sanitized properly.
“Stay Safe, Stay Healthy, Stay Home”
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