Suggest solutions to deal with the structural challenges of the Indian economy.

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Solutions:

 

  • Allowing market to penetrate in the non -efficient areas.
  • Government need to do way with the fear of private sector intrusion and instead adopt the role of facilitator.
  • Intellectual property rights need to be preserved and ecosystem of safety of IPR should be there.
  • Rational and quick decision making on the unviable public sector units.
  • Allowing economic agents to face market prices so that efficiency can be attained. Do away with archaic law such as APMC.
  • Big taxation reforms in taxation sector.
  • Subsidy rationalisation.
  • Given the difficulty of reforming labour laws per se, the thrust could be to move towards affording greater choice to workers which would foster competition amongst service providers.

 

 

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