Ramp up healthcare, focus on growth and jobs, says CII

The Confederation of Indian Industry (CII) has rolled out a roadmap for economic recovery, suggesting a 10-point programme which includes protection of lives and livelihoods, prioritization of healthcare and education, finding the right balance between fiscal deficit and financial stability, push for jobs with a focus on economic growth.

In its report, the industry body noted that the challenge for India is that it is opening up economic activities at a time when the spread of the coronavirus is peaking. In terms of timing, India’s situation is very different from other countries which opened up once the spread of the virus was contained.

“This has implications in terms of the importance of a massive ramp up in India’s testing infrastructure and Covid-related healthcare infrastructure. While the Center and the states will have to work together seamlessly, India’s health and safety response to the spread of the virus will have to be very nimble,” it said.

The CII also underlined that getting growth back was essential as that was the only way to protect and generate jobs and livelihoods. It also said that while the government has already announced several reform measures, those need to be executed well.

The report also said that it was important to re-start the engines of economy besides the traditional ones which include investments, consumption, exports and government expenditure. The CII underlined the need to deliberate on ways to make the private sector a partner in the growth engine.

“A vibrant rural sector can be an important pillar of India’s growth strategy in the post-Covid world. Rural India has been relatively insulated from Covid, which has been more of an urban phenomenon across the globe. Therefore, a higher GDP coming in from rural areas, will mitigate the risk to growth from pandemics,” the report said.

The report also said that Make in India, that was launched to scale up India’s manufacturing and increase its contribution to the GDP and employment, needs to be pushed, especially as many global companies are looking at broad-basing their supply chains as well as markets.

“With its focus on land, labor and laws, mission Atmanirbhar Bharat lays a very strong foundation of reforms for making India a leading global manufacturing hub, as also envisaged by the Make in India initiative,” it noted..