‘Government must prioritise economic growth’

Kaumudi Kashikar Gurjar
Wednesday, 22 May 2019

e are a mere day away from knowing who will be at the helm of our country. While the results of Lok Sabha elections will be known no later than on Thursday, Sakal Times spoke to industry leaders

Pune: We are a mere day away from knowing who will be at the helm of our country. While the results of Lok Sabha elections will be known no later than on Thursday, Sakal Times spoke to industry leaders such as President of MCCIA, Pradeep Bhargava, Executive Chairman and Founder of 5F World, Dr Ganesh Natarajan and Past President of MCCIA, SK Jain to know their expectations from the upcoming government and what their priority should be. Both Bhargava and Natarajan said that boosting economic growth and employment generation should be on the top agenda of the new government.

Pradeep Bhargava, President of MCCIA 
Among the list of immediate deliverables expected from them, economic growth and generating employment are the foremost expectations of the nation. 

Bhargava said that Government of India should take bold steps by investing in capital expenditure in core sectors like roads, railways, defence. Such investments will generate investment in the private sector and help the overall 
employment growth.

He further added that resources would clearly be required for these investments. The government should push its revenue collection machinery as well as ‘fast forward’ the disinvestment of public sector units in all non-strategic areas. He said that the Central government should also push the State government to do the same. Huge resources can be generated and these enterprises will run more efficiently.

For about two years, the Central government could even increase its deficit and generate more resources for investment. He said that all developing economies do that. We can go back to the 3.5 per cent GDP norm later. Investment needs a boost, and economic activities will generate revenue for the government. 

The private sector needs help in terms of removing the bottlenecks and incentives to increase production and exports.

Speaking about the medium or long-term expectations reforms across the board have been on the agenda of all government. There is a need to conclude them in this term covering administrative, police, judicial and even electoral reforms. The answers are available and there is a political will that is required to implement them. All these steps would lead to not only ‘ease of doing business’ but ‘ease of living’ as well.

The industry should be bold and take effective steps to increase our investment both for the domestic and international market.  We need to have confidence in our own economy.

Dr Ganesh Natarajan, Executive Chairman and Founder of 5F World 
The government should accelerate the upgrading of the physical digital and social infrastructure in the country and substantially incentivise starts-ups to become entrepreneurs and job creators in the country.

The government needs to give a substantial push to outstanding NGOs in the country like SVP India Educate Girls and Pune City Connect for a national scaling. Similarly, there is a need for serious investment in artificial intelligence in all sectors of the economy. More importantly, there is also a need to rejuvenate the Make in India initiative to ensure that jobs are created on a large scale while continuing focus on creating more agriculture jobs and the reduction of farmer distress.

SK Jain, Past President, MCCIA
The international airport for Pune must get top priority to improve the economy and the welfare of not only people of Pune but also for the hinterland. We have waited long enough for it. MCCIA has been fighting for an independent airport, for Pune for the last 20 years. It’s high time that the new government takes cognisance and expedites the same. This would ensure Ease of Doing Business and increase the chances of more Foreign Direct Investment.

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