It isn’t hard to understand that the Aatamnirbhar is the step to provide boost to the local business however some would argue that Government has made the most out of global crisis, the following is one of many thought experiments.
Let’s imagine that even after all the odds Government is able to boost the local economy at all levels so much so that people start to quit jobs to start their own business or start working as freelancers from the comfort of their homes. This in turn will put the country right back in the GDP game. This all sounds very exciting with dose of imaginations, however it’s just one of many futures possible depending upon the degree of success of Aatamnirbhar campaign.
In the past we have seen that local business is unable to compete against global brands, a local grocery shop owner is no match for a supermarket chain. Also recall the case, when, Campa-Cola was unable to compete against Coca-Cola and Pepsi. It might be possible that the Government has a plan to assist the local business by creating a new economic ecosystem which strikes a dynamic balance between MNCs and local brands, in terms of competition and choices.
Let’s assume that this model is successful and a new government comes in and takes steps in different direction and takes away the assistance provided by the Government which results in take over of local businesses by MNC. This is where this thought experiment starts to make me worried.
We know that our economic policies is the reflection of political party in power, depending upon their ethical outlook they could be honest or unfaithful and thus the economic growth of the country. What if a dishonest Government in power abuses it’s power against local business? Do we have a system in place which can safeguard these small business and their growth against systemic corruption which resides within Government, irrespective of the political party in power? Some of you may say yes we have judiciary and constitution to safeguard the interests of its population, however that safeguard did not stop all the scams from taking place.
We might need a new parameter, like metric system to define economic development and all the terms associated with it, which can be understood by anyone.