Page 7 - NIS English January1-15

THE SILVER LINING economic fundamentals only helped the government
chart a new course for development. Beginning
with reconstruction and rebuilding different sectors
l On exports and services fronts, disrupted by the pandemic, priority would obviously
the New Year could herald a new centre around putting the economy on a high growth
beginning of sorts trajectory. AatmaNirbhar Bharat campaign initiated
by the Government a few months back could be the
l Indian merchandise exports that starting point to rev up all engines of the economy,
were valued at $27.58 Billion in spur demand and bring jobs back especially in
September 2020 with a growth of micro, small and medium enterprises. On the
5.99 per cent over the same month back of the emergency credit guarantee scheme,
previous year instil some hope over 45 Lakh small businesses have revived their
operations protecting a huge number of formal and
l Indian service providers that fought informal jobs. Over Rs 2,05,563 Lakh Crore have
a valiant battle against COVID-19 been sanctioned to 80.93 Lakh borrowers.
propelled cancellation of orders Out of this, Rs 1,58,626 Crore have already been
have already moved into the positive disbursed. More seems to be on the way. This is
just one data spec that points to on-going efforts
zone with expansion reported in
to ensure full economic recovery as the New Year
October 2020
unfolds pristine surrealism. This surrealism is also
l With COVID-19 related restrictions reflected in independent consultancies’ notes on
scaled down globally, service India’s economic growth prospects.
providers are bound to offer their While challenges are many, this Government
is known for turning most difficult situations into
best to the world
opportunities for making a mark on the global canvas
like unfurling path-breaking reforms in labour and
Every vulnerable section was given some relief agriculture sectors.
or other from the three AatmaNirbhar packages and These reforms were intended to bring about
they would obviously continue to get support as the transformational change in the lives of New India’s
Prime Minister had reassured in various interactions workforce and farmers. Four new Labour Codes
with different sections of the society. From food and liberalised agricultural markets provide the
grains to cash support, credit to subsidies, the perfect springboard to spreading prosperity to our
Government has walked the talk as it moved about hardworking industrial workforce and the farmers.
business like while remedying health disaster Without their participation, a healthy 3.6 per cent
related adverse impact. agriculture growth would not have been possible
During six years of the Government, the way in the first half of this financial year. Similarly, the
policies have been formulated keeping the welfare industrial growth that saw a downturn in April –
of poorer sections, all socially beneficial schemes, September 2020, sprung back to life with 3.6 per
last mile deliveries with maximum transparency, cent growth in October 2020 thereby pointing to a
corruption in high places negated, digitisation of firm manufacturing recovery going forward.
public services ensuring that corruption at lower Backing prudent policies of the Government
level was minimised. This has generated an that seeks to be part of high value global supply
unprecedented popular faith and belief in leadership chains could break the jinx in 2021. Trade surplus
of Prime Minister Modi. Dawn of New Year would of $17.74 Billion and exports at $221.86 Billion
bring greater fulfilment of hopes and aspirations. achieved during April – September 2020 could
Signs of the economy bouncing back on the be the perfect matrix to move forward. As Swami
strength of the Rs 29.87 Lakh Crore AatmaNirbhar Vivekananda said, “Hope and positive ideals are
Bharat package beginning May 13, are already very good motive powers for our lives”. Let’s hope
there. Resilience of Indian people and the strong for the best in the New Year!
New India Samachar 5