India faces twin challenge on economic front and health front. On health front to recover from second wave of corona virus which proved to be even more deadly both in terms of numbers and casualties, than the first wave, we also have to prepare for third wave which many are predicting may come after few months. It is our good fortune that a clear road map has been prepared to meet threat of Corona.
There is no doubt that vaccination is the most effective weapon in the fight against Corona. To vaccinate entire population by end of the year the Center has agreed to supply free vaccines and it is now the responsibility of States to vaccinate people. Task is not easy as in many Hindi speaking States like UP, Bihar Madhya Pradesh and Rajasthan there is lot of resistance. A major drive to remove misgivings on this account is required as was done in case of Polio program.
Along with vaccination States also have to provide better care in Hospitals. Oxygen availability and availability of medicines has to be improved.. Fortunately for us new drugs and medicines to help in recovery of patients have come out and should reduce mortality rate. This would make us better prepared if Center and States cooperate to meet the threat.
On economic front we have two advantages- huge stock of food grains to feed people and record foreign exchange reserves to import any item in short supply. The challenge before us is to create jobs, not only in old industries but also in new areas. There is opportunity for India to become a manufacturing hub in days to come as world looks for alternative sources of supply to reduce its dependence on China. India can take advantage of this situation and emerge as a credible alternative.
It is not to suggest that the task is easy. As major cities in Maharashtra, Gujarat, Punjab and Delhi open up, reverse migration of labour which left during lockdown should be encouraged.. States can add more incentives to workers returning to places of work. The spending by Government both by Center and States will have to be increased so that construction activity as well other sectors which can generate jobs start working at full capacity .Present policy of caution and control of inflation may have to be changed as it is an extraordinary situation which requires extraordinary measures to deal with it.
Prime Minister Narendra Modi has declared that country was dealing with a situation which has not been faced in a century. Special measures are required to deal with it. Our economic foundations are sound, we have capacity to become centre for manufacture of drugs ,vaccines and chemicals besides IT sector where we dominate. India has a distinct advantage in service sector which could be used to produce hardware also in days to come. Our large manpower trained in different sectors remains our strong point and same should be used to maximum. advantage.
India’s GDP at present is not growing but it can bounce back in no time given incentives. This has also been the prediction of international agencies. The picture of gloom can be turned into picture of hope and confidence . Our corporate sector is ready to make a fresh start Rise of sensex indicates that not only domestic investors are active but foreign investment is also coming. So We can hope in coming months a new journey of growth will start. The current scenario where there is large scale unemployment and gloom, can change for good.