Hon. Prime Minister Shri Narendrabhai Modi has the dream to make India self reliant. He identified the weakness of Indian Economy in spite of the background of liberalisation since 1990, but slow industrial growth and contribution of exports to the world market. The major constraint of ranking of India was too poor in the “Ease of Doing Business”. The major hurdle to do the business in India was the complex laws as well as tough bureaucracy which was working with red tapism and high level of corruption. In view of the same, in 2014 to 2019, he made the slogan of Digital India and implemented number of aspects to avoid interface of government officials. Further, old and complex 1500 laws were rescinded. The major success towards the make in India drive was through implementation of Goods & Services Tax – One Nation One tax. This is the remarkable success and that is the one of the reasons of more inflow in FDA.
Unfortunately, in 2019, whole of the world was adversely affected by COVID-19 and thereby not only world economy was impacted, Indian economy was worstly hit and hence there was a need to have the financial package.
Undoubtedly, Hon Finance Minister has announced different packages for revival of the economy and boost to the MSME Sector. Some of the important implementation is reproduced.
Click on the link to read : Comepndium on Production Linked Incentive Scheme
