{"id":203307,"date":"2022-09-02T20:01:54","date_gmt":"2022-09-02T14:31:54","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=203307"},"modified":"2022-09-03T10:10:28","modified_gmt":"2022-09-03T04:40:28","slug":"three-key-changes-to-counteract-global-slowdown-goi-should-privatise-reform-agri-market-reduce-customs-duties","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/three-key-changes-to-counteract-global-slowdown-goi-should-privatise-reform-agri-market-reduce-customs-duties\/","title":{"rendered":"Three key changes: To counteract global slowdown GoI should privatise, reform agri market &#038; reduce customs duties"},"content":{"rendered":"\n<p><strong>Source<\/strong>: The post is based on an article\u00a0<strong>\u201c<\/strong><strong>Three key changes: To counteract global slowdown GoI should privatise, reform agri market &amp; reduce customs duties\u201d<\/strong>\u00a0published in\u00a0<strong>The Times of India<\/strong>\u00a0on\u00a0<strong>2<sup>nd<\/sup> September 2022<\/strong>.<\/p>\n<p><strong>Syllabus: GS 3<\/strong><\/p>\n<p><strong>News: This article discusses about the steps that India should take to tackle global economic slowdown.<\/strong><\/p>\n<p><strong>April-June quarter\u2019s GDP data shows recovery in the Indian Economy. However, global economy has slowed down. <\/strong><\/p>\n<p><strong>Also, RBI\u2019s monetary tightening to contain inflation will hinder economic progress. <\/strong><\/p>\n<p><strong>All these issues can be tackled if the state and central govt. can resume the shelved reforms.<\/strong><\/p>\n<p><strong>What steps can be taken by government of India to counter global economic<\/strong> <strong>slowdown?<\/strong><\/p>\n<h5><strong>Privatization<\/strong><\/h5>\n<p>GoI needs to overcome bureaucratic hurdles to privatization.<\/p>\n<p>The government announced strategic disinvestment of 35 PSUs in 2016. Out of which 24 are still in the process of sale.<\/p>\n<p>There is slow progress in the proposed privatization of two public sector banks of the 12 functioning ones.<\/p>\n<p>These transactions will provide capital for GoI and boost its infrastructure development plans.<\/p>\n<h5><strong>Agriculture<\/strong><\/h5>\n<p>The potential of the common platform for a national agricultural market (e-NAM) hasn\u2019t been fully tapped.<\/p>\n<p>It has a great potential but there is a need to work on logistics and dispute settlement.<\/p>\n<h5><strong>Trade<\/strong><\/h5>\n<p>The protectionist approach needs to be discarded to get the most out of the PLI scheme.<\/p>\n<p>FTAs, rather than bilateral trade deals, should be prioritized.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on an article\u00a0\u201cThree key changes: To counteract global slowdown GoI should privatise, reform agri market &amp; reduce customs duties\u201d\u00a0published in\u00a0The Times of India\u00a0on\u00a02nd September 2022. Syllabus: GS 3 News: This article discusses about the steps that India should take to tackle global economic slowdown. April-June quarter\u2019s GDP data shows recovery&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/three-key-changes-to-counteract-global-slowdown-goi-should-privatise-reform-agri-market-reduce-customs-duties\/\">Continue reading <span class=\"screen-reader-text\">Three key changes: To counteract global slowdown GoI should privatise, reform agri market &#038; reduce customs duties<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10496],"class_list":["post-203307","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-times-of-india","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704918813},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/203307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=203307"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/203307\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=203307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=203307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=203307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}