With less than two years to go for the next general election, the government’s report card has become too unpleasant with failures at multiple levels. The economic situation is so bad that State Bank of India in a recent report pointed out that slowdown that is now experienced is real and not technical. Many economists have called for more public spending to arrest the slide. Clearly, the biggest blot on the government as of now is the miserable failure in keeping the promise to create millions of jobs.
The government should consider giving incentives to products that are made in India, said Sanchit Vir Gogia, Chief Analyst, Founder and CEO of Greyhound, a global strategy and transformation research, advisory and consulting firm.
“Excise duty makes products expensive. Subsidies around excise duty is crucial,” he said. With manufacturing sluggish, giving subsidies and incentives to products made in India would help manufacturing and startups, he said.
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Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Knowledge Group, a Global Strategy & Transformation Research, Advisory & Consulting Firm. To read more about him, click here.
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