1) Increased public expenditure on building infrastructureThe economists suggested that the government restructure its expenditure in favour of capital spending (in roads, railways, urban and rural infrastructure, housing) along with providing a clear roadmap and financing plans of the National Infrastructure Pipeline announced in the latter part of 2019.
2) Enhance revenue collectionsThe economists suggested that the government utilizes the current buoyancy in market sentiments to their favour by pushing for disinvestments.
3) Ease and cost of doing businessThe economists suggested that the government should ensure continued focus towards ease of doing business while simultaneously reducing the cost of doing business in India.
4) Relief package for the services industryThe economists called for a relief package for the services industry particularly those which were most impactedcontinue to be deeply impacted by the pandemic including travel and tourism, hospitality, transport, education and healthcare sectors. They sought increased budget allocation for critical social sectors such as health and education given the current situation.
5) Focus on agriculture and allied activitiesThe economists said that agriculture and allied activities sector required continuous focus with the consolidation of reforms. They said spending on creation of agriculture infrastructure must be expedited which would result in the enhanced capacity of cold storage and warehousing facilities in the country. They also sought allocation of additional funds towards food processing schemes along with incentives for agri-exports.
6) Employment creation and consumption revivalThe economists stressed upon the fact that employment creation and consumption revival remain the key areas for ensuring a sustainable turnaround in economic prospects. Therefore, they called upon the government to announce a temporary fiscal stimulus to support consumption in the form of income tax breaks or direct income transfers.To ease the employment situation in both rural as well as urban areas, the economists expect greater budget allocations to MGNREGA along with the introduction of an urban employment guarantee scheme similar to its rural equivalent.
7) Recapitalization of public sector banksThe economists sought adequate recapitalization of public sector banks
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