In any economy, three sectors namely employment, agricultural and banking sector are of utmost importance. What steps must be taken to boost these sectors in India?
There is a lot of political interference in every sector in India. The new government must focus on a structural based economic agenda and must provide Indian economy modern and world class exposure. The following reforms must be taken:
Employment sector:
An industrial-strength apprentice and vocational training system and a quantum jump in the quality of our school education is necessary for the growth of Indian employment sector. The following steps must be taken:
- Revamping the broken chain of India�s vocational streaming and training system
- Stream high-school youth into the vocational path
- Improving the quality and relevance of vocational education
- Focus on employment generation for environmentally sustainable infrastructure projects
Banking Sector:
- Immediately transfer its ownership in public sector banks to an empowered agency in the form of an exchange traded fund (ETF)
- Delink these banks from all forms of governmental interference
- The centre should insist on accountability in the governance of all public sector banks
Agriculture sector:
- Improve agricultural productivity
- Provide alternative occupational paths for rural households
- Access to better seeds and technology
- Drip irrigation and crop planning for the farmer
- An easier path from farms to markets for products
- A steadier offtake of farm products and a reduction in middleman costs
�It is the time for the government to take some urgent steps to reform the economy.�� It requires collective efforts from all the stakeholders involved.
Topics: GS-III: Indian Economy Issues Relating to Planning