'Govt should look into infusing liquid in market'

By Navneet Singh,

“There’s no doubt that the Indian economy of late has relatively weakened. It is evident from a downward GDP growth trajectory that has declined for the 6th consecutive quarter and reaching the lowest in the last 26 quarters. The degeneration has affected joblessness – It is at a four-decade high and in sync, the household consumer spending has hit a four-decade low. Jobs and employment have been the key agenda for the government and the entire industry is looking forward to the upcoming union budget. Some measures that the government should definitely look into are – Infusing liquidity in the market that will lead to credit growth and open up the doors for numerous job opportunities. In addition, necessary amendments should be brought in this budget to simplify the GST structure, rationalize the rates, and ensure a seamless flow of input tax credit, among others. The expectation is that the Government should immediately focus on improving the institutional structure and removing obstacles that constrain growth - undertaking bolder reforms of land, labour, regulations, governance, the business environment, and the public sector will help in reducing the cost and improving the ease of doing business in India. It would be encouraging to see the government's effort to engage the private sector in projects and address financial gaps through public-private participation.”

(The writer is CEO, Avsar HR Services)