QUESTIONS FOR THE ECONOMIC REFORMS

 QUESTIONS FOR THE ECONOMIC REFORMS

It's a hard fact that though economic reforms introduced in India since 1991  resulted in creation of enormous wealth , yet inequality has also been increasing many folds. Unfortunately our politicians, unlike their counterparts in the Western Europe, the US and China are not ready to accept the faults and negative consequences of the new economic reforms. However certain economists have examined this problem of rising inequality and questions of job loss from the perspective of globalization and two among them are Abhijit Bananjee and Esther Duflo. Based on their analysis here are some of the many questions raised by them and we can ask for certain clarifications from our policy makers within the framework of the following questions.
1.Are economic reforms and emphasis on Atmanirbhar Bharat campaign creating industries which are more labour intensive ? In other words are these reforms and policies providing more employment or are just creating more profits for the employers?

2. Is the  labour force moving from less traded industries to more traded industries?

3. Is the  capital moving in the same direction as above?

4. Are both labour and capital synchronized in their mobility in the  above mentioned direction?

5. Are these policies offering opportunities for creating region specific industries or not?

6.Is the capital moving from idle hands to the working hands?

7. Is there some form of trust in the quality of  products produced in the minds of the purchaser?

8. Do these policies also include re-skilling the labour force ?

9.Are these new industries aimed to live up the expectations and trends of the markets?

10. Is there any trust value attached to the companies?

11.Have  these policies of economic reforms  any contingency plan and contingency fund to meet the initial losses?

12. Have  these policies of economic reforms  elements of foreign policy to enable the producers to reach  the  new markets? In simple words, is the government ready to play the role of fascilitator for making new international markets for the domestic producers?

13. Do the policies of economic reform make ample provisions for better and more universal education system in order to enable people to upgrade their knowledge and skills and to acquire desired knowledge and skills for producing goods and services which are in demand in trade ?

14.Do these policies make provisions for better and universal health care and sanitation provisions to make the labour force more suitable for the work, and to make the labour force tension free from the huge expenditure on the health care and sanitation?

15. Do the policies of economic reforms make  sufficient provisions for creating better connectivity between regions by ways of physical and other modes of communication and transportation?

16. Do these policies recognize the importance of social factors prevalent in the society and make ample provisions for creating peaceful, open, tolerant society with fair amount of freedom , liberty, peaceful coexistence and  make grounds to promote the entrepreneurship?

17. Do these new policies lay proper emphasis on reliability, quality and reputation ?

18. Do these policies of economic reforms take stock of the situation that might rise due to loss of employment and  earning because of imports?

19.What provisions have been made or intended in these policies for redistribution of profits gained to compensate those who might be left behind?

        These are some of the queries which must be made by the Indian labour unions, political parties , capitalists and industrialists, new entrants and all other stake holders.

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