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‘Farm reforms, job creation to be priority’:
Context
Post polls, ‘doubling farmer income, skills mission revamp high on agenda’
What has happened?
Taking note of the BJP’s lacklustre performance in rural areas in Prime Minister Narendra Modi’s home state as well as the development mandate in the hill state — will ‘prioritise and expedite agricultural reforms and employment generation’ initiatives from now on
Reforms will continue
This victory, in the backdrop of concerns over demonetisation and the implementation of the Goods and Services Tax regime, is a huge shot in the arm for the reform credentials, reform resolve and reform reinforcement of the [NDA] government. Therefore, the reforms will continue
Priority areas
- Doubling farmers income: Priority areas are likely to be the mission to ‘double the income of farmers by 2022’ as well as employment generation in sectors including housing and exports
- Revamping NSDC: Revamping of the National Skill Development Mission and an emphasis on the National Apprenticeship Promotion Scheme (for “promoting apprenticeship training and incentivising employers keen on engaging apprentices”) were key with regard to job creation
- Farm sector: In the farm sector, the plan is to ensure that farmers are not just producers but are part of the entire value chain
- The government is compiling a list of all successful farm experiments in the country that have resulted in a substantial jump in the income of farmers involved in those projects, so that they can, in turn, be replicated and scaled up through about ten pilot projects
- Exports sector: In the exports sector, the government is studying supply-side constraints, especially the labour-intensive ones, with a view to increase employment
- Financial sector: In the financial sector, the current priority concerns protection of the common man’s savings and the focus was hence on the Financial Resolution and Deposit Insurance Bill, its controversial ‘bail-in’ clause and addressing concerns over depositors’ money in case of a lender failing, as well as a proposed law at the Central level to effectively regulate chit funds and to prevent fraud
