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The coalition that forms the government at the Centre will have its task cut out when it assumes the office in the next few days. The new government will have to address several problems including rising unemployment, economic disparities, labour reform and agrarian crisis, amongst other issues on a war-footing to meet the aspirations of the people. Any failure to tackle these burning issues will make the dream of inclusive development elusive. While unemployment is preventing the nation from reaping the benefits of India’s demographic dividend, economic disparities may create social unrest. On the other hand, labour reform is a must to improve productivity, while agricultural reforms should be prioritised as the majority of the country’s workforce is engaged in this sector. There is an urgent need to increase the contribution of agriculture sector to the country’s GDP which is abysmal at present as compared to other sectors. Similarly, emphasis should be given to the secondary/ manufacturing sector to increase industrial output as well as enhance the country’s exports to earn valuable foreign reserves. If these sectors become stronger, it will significantly help in removing economic disparities and unemployment problems. So, from day one, the new government should remain focused on removing the main factors that are ailing the country’s economy.
It will not be an exaggeration to say that Indian agriculture is going through a crisis as it has remained in its primitive stage even today, majorly devoid of modern technology and adequate funds. Efforts were made way back in the mid-sixties to modernise Indian agriculture, but it’s a pity that despite the positive outcome, very limited effort has been made to increase productivity. The use of high-yielding seeds and fertilizers has made the country self-sufficient in wheat and rice production. As the experiment with modernity was made in the northern Gangetic plain, the same techniques should have been applied in the Ganga-Brahmaputra basin, which is undoubtedly one of the most fertile land stretches of the world. At the same time, the government should take proactive measures to make funds available to farmers through various schemes and financial institutions to keep the people engaged in farming, apart from improving irrigation facilities. It also should give priority to labour reforms as lack of it is depriving labourers from getting adequate wages and other related benefits including job security. The government should ensure that not a single labourer is denied of his or her rightful dues and basic rights, as productivity is bound to be affected in the absence of such measures, and economic disparity will continue to rise.
Solving the problems related to the primary and secondary sectors of the economy will help the nation tremendously in combating the unemployment problem. At present, despite having the world’s largest youth population, India has not been able to capitalise on available workforce. The new government should make every effort to fix the holes in India’s current system and effectively capitalise on its resources. Per capita income, level of industrialisation, general standard of living and technological infrastructure are critical economic factors that will either arrest or boost India’s quest of becoming a developed nation by 2047. A country cannot be considered developed if the citizens have no viable source of income and deprived of quality education and healthcare.