It Depends on How we Self Depend

The Economic Times     12th September 2020     Save    
QEP Pocket Notes

Context: Atmanirbhar Bharat (AB) has a dual component of driving broader transformation and scope of transformation.

Sub-elements of AB:

  • Breaking the Prevalent patterns of trade: in sectors like cotton textiles, electronics and software.
  • Engaging in the global economy based on value-added production, not basic inputs.
  • Creating an India fit for the Technology Age: using Indian innovation to bridge the technology gap with the world by leveraging our limited resources (For E.g., India’s Mars orbiter mission, Mangalyaan);
  • Open Source Bharat: Welcoming and integrating global capital and technology on our terms in the form of ‘open-source Bharat’.

Way ahead for Atmanirbhar Bharat: Since it involves participative change with top-down facilitation its main building blocks should be the following:

    • An ecosystem encouraging winners: 
      • There should be support and protection for innovative ideas and winning business strategies.
      • As a corollary, incumbents should not get a free ride to market domination.
    • Simple regulatory regime: with business-friendly tax, land and labour reforms, responsive administration using the technology-based solution and comprehensive laws.
    • Reducing Market Intervention: Removal of undue reliance on government sop, subsidies, regulatory arbitrage which fosters corruption, by having a sunset clause.
    • Job Creation: Self Employment to be encouraged in order to create jobs and ‘Stand up India’ by supporting entrepreneurship, and 
      • creating level playing field by providing regulatory, human, capital and technical support. 
      • Innovativeness of the informal sector to adapt during a pandemic by taking shops online.
      • A thriving informal sector will find innovative ways to compete, as we have seen with Kirana shops going online during Covid-19.
  • Social Security: Resource Mobilisation towards health, education and transport on a priority basis.
    • New Education Policy 2020 steps in the right direction, supplemented with the vocational and traditional skill development programme.
    • Welfare initiative for a vulnerable section such as old age, farmers and their efficient delivery.
  • Re-engineering Public-Private Partnership (PPP): PPP usually benefits private players disproportionately or get delayed in regulatory and auditory processes.
    • There should be time-bound project timelines
    • Transfer to a private party after being operational with government exit after getting a suitable risk-weighted return.
  • Culture of Research and Development: By creating synergy between corporate, academia, and Government. Supporting Commercialization of R&D and profit-sharing with the researcher.
  • Make For World: Need to incorporate global competitiveness by utilizing developing markets Asia and Africa as beachheads.
  • Coherent Mission Management:
    • Ending silos in governance 
    • Making deployment of government resources flexible are critical to success
    • Transformation of Prime Minister’s Office, Cabinet and Chief Minter’s Office from power center into network nodes enforcing coordination overriding political differences.

Conclusion: Atmanirbhar Bharat, if successful, can indeed create ‘Unnat Bharat’.

QEP Pocket Notes