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Annual Magazine Meanwhile, as the rest of the world waits with bated breath for the end of the trade war, to an average Indian,
INITIATIVES TO INNOVATE
Akshit Anand
INDIA 2018-19
B.Com 2nd Year

it's time to bask in the glory of its achievements, albeit in a new 'avatar'.
The vision of India, all geared to take initiatives in every sector such as technology, telecom, railways,
defence, industries, economy, environment, education etc. In the last 10 years this present government put a
lot of emphasis on innovations and initiatives. Not only in technology, but India is also gaining its domain
worldwide over its economy, defence, space technology and governance. But all these predictions and data are
worthless without proper planning, implementation and cooperation of the government with the general
public. Here are some brief examples of the government initiatives and great innovations by our private
players.

Right from 'make in India to digital India', from 'start up India to skill India', from rockets to missiles, from
technologies to designs, from machines to medicines, from economy to environment, from application to
software, from Ola to Oyo , from Zomato to Swiggy from high speed data to unlimited calls etc. our
government and private players covered almost every field. The last two years were full of implementation of
govt programs and even experiments with our economy and public sectors. Some experiments created history
and even secured records such as Nirmala Sitharaman, Finance minister of india, the architect of India's
Largest 'Consolidation Drive' ever and privatization of some maharatna and navratna companies. Some
initiatives failed upto some extent such as demonetization and GST.

The world economy as well as indian economy is suffering from a slowdown and financial crisis because of the
trade wars between US and China and the collapse of some financial institutions [ bad loans and non-
performing asset ] respectively. Keeping that last global recession in mind every country started working and
experimenting over their monetary as well as their fiscal policy, similarly the Indian Government is also
putting in lots of efforts in reviving the Indian economy, by taking varied measures such as, continuously
bailing out the industries that is strongly hit by economic slowdown, for example, automobiles and steel
industry, telecom industry, banking and finance industry [ NBFCS ], etc ; to boost the revenue collections,
privatization and disinvestment in the public companies [ PSU ] had been the best option.

Apart from the economy our government has also initiated some programmes and schemes related to
environment, technology, education and governance. Deep concern over detoriating environment and climate
change. Some of the government schemes are as follows, Jal Shakti Ministry, AMRUT Plan, Namami Gange
Yojana, GOBAR DHAN Yojana, the Galvanising Organic Bio-Agro Resources Dhan (GOBAR-DHAN) scheme
was launched by Haryana's Chief Minister Manohar Lal Khattar and Uma Bharti (Union Minister for
Sanitation and Drinking Water), NCAP [ National Clean Air Programme ]; Hridaya Plan [ HERITAGE
CITY DEVELOPMENT AND AUGMENTATION YOJANA ].
All the foreign players are vigorously investing or showing eagerness to invest in the India start-ups, because
of our innovative ideas. Even some of the start-ups are also listed in the Indian stock market because of their
performance and ability.

Hence, one should hail the government for making big bets to give a boost to the economy, albeit in the long
run. Now the government has pulled the fiscal and monetary levers simultaneously. Our policymakers need to
seize the opportunity provided by today's initiatives to renew investment in innovating India and endorse the
economy of the future. If they fail, then it could bring adverse affects. Of course, India will have to get through
a few hard spells of negotiations. However, one needs to be cautious about any future predictions; because
good things need time to happen but the great things need both time and cooperation, simultaneously.

18 Volume-VIII, 2020