India's priority Post Covid 19

An Interactive Webinar on India’s Priority Post Covid-19 on  Economy, Healthcare, Education, afirmative action, judiciary, Tax Organised by Institute of Business Management and Research, Hubballi (Economic Forum) & Karnataka Chamber of Commerce, Hubballi

Date: 15th December, 2020 Timings: 4:45pm to 5:45pm.

Speaker: CA Pattabhi Ram (From Chennai), A CA by profession, a writer and author by passion, a teacher by accident

We are in 2020. The year Abdul Kalam asked to look forward to. There were many vision documents, and no one envisiged this. 1917 October Revolution in Russia, we were in the middle of the first world war, and right in the epicentre of Spanish flue. The impact of Spanish flue was 30 times what is now.

Covid 19 has dramatically transferred the world to the better.

Biggest impact is on technology. Both time and space have effected. A huge price has been paid. Digitalisation has accelarated not because of the efforts of any particular individual , but because of Covid.

I Economy: If I were an opinion maker in the country, would like to tell prime minister:

1) Our GDP is falling, there are blessings in disguise. Home loan is at 6.75%. 

2) Government should pump money into industry that need it. Newtons 3rd law of action - while economy is stagged - Indian stock market is gone up. It is as though Sensex is celebrating.

3) Health care industry has changed, cloud has become important, OTT theaters have become the place where movies release, most purchases are through Amazon. 

II Active Judiciary : Deliver on its promise to be independent, the courts of India should be seen to be independent. 68% of people in prison, are under trial. Bar and Bench say 4 crore cases outstanding, at lower courts.

Chief Justice to hold office at least 5 years.

III Tax and Pension:  A person works from 24 to 65 and pay loads and loads of taxes, when he can no longer earn., we are increasing to see nuclear families, count the amount of tax, and individual has paid, look at it corpus, and payhim 5% 

IV Education: Have affirmative action take place. Happy to see the market economy, like to believe that government has to take care of : Primary education, private players take over corporation schools, 

V Healthcare: While privatisation of healthcare was important, there has to be economic or affordable healthcare. Nobody should walk out of hospital, unable to afford.

VI Upskilling: 95% of our Engineers are jobless, CA's are not doing the skilled job  - reskilling youth for the next part of the 21st century, is going to be important. 

Except manufacturing industry - 40% people will work from home. Travel, eating out is going to reduce. Many of us will work, without personally meeting each other. 

Farms reform - Grey area - politically hot - Accounting, legal, journal - anybody want to resist - if outsiders are allowed to come and take their area. It is normal. If you can promise a minimum, Corporatization in India has always had resistance. If you can show there can be partners, if you can show it will  help profit, people will accept. They have to be convinced.

We will all be happy if India becomes an Investment destination, but so long as the world around us continue to believe that we are democracy and secular nation, investment will happen. Just because people are not happy to go to China, it does not mean it will come to India - there are other nations are around. Laws should be such that decisions are given in an independent fashion.

Few bodies should be in depended  CVC, Chief of police, Election commission, Chief Justice, all should report only to president of India. They should not report to home minister. We also need a media, who can call spade a spade. 

Today party in power - the job of a journalist is to be a critic. You cannot call them Anti national. This will distract investment. Facebook how it has take up hate speech in India. Government's job is to deliver. There should be an element of going together.  Many loosing job - people should upskill themselves, these period is the time to pick up new skills. Lost jobs will not come back, but we need to upskill. In contract farming amendment - judiciary should not be involved.

Not to drop guard on health care, upskill yourself, no people really feel that life can go anytime - tick the bucket list.