Today we talk about the farmer protests. We also look at inflation and how India can become a better nation to trade with.
In Today's Highlights:
You have probably heard the news, watched the stories. Farmers are protesting and in a show of extreme dissatisfaction, have marched all the way to Delhi, to lay their problems at the feel of the government.
Around 32 farmer organisations, mostly from the Punjab, and a few farmers from Gujarat and Maharashtra as well managed to reach Delhi on Friday and assembled at the border areas to continue their protest. The farmers are protesting against The Farmers' Produce Trade and Commerce (Promotion and Facilitation) Act, 2020, The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020, and The Essential Commodities (Amendment) Act, 2020.
Read this article to find out exactly why the farmers are protesting. Or read our analysis!
Why is this relevant to you, the MBA student?
India is an agrarian economy. Which is why it stands to reason that no matter what specialisation you want to graduate with, the state of the economy is always going to be a GD-PI topic in vogue. So let’s understand just why the farmers unions are up in arms.
First of all, the bills. These allow private sector organisations to enter and regulate produce, to put it simply. But farmers see this as a method for private sector organisations to gain monopoly. This is the reason they are vehemently protesting these bills.
Basically the farmers believe these bills will give monopolistic power to the multinational organisations and allow them to spin the economic wheel according to their requirements. The farmers feel they no longer will have control over the prices of their produce. The government on the other hand wants to usher in an era of privatization. Meanwhile, the Delhi police wanted to reserve 9 stadiums to hold the protesting farmers as prisoners. But the supreme court categorically said that farmers are not criminals and denied the use of these stadiums to the police.
In Other Highlights
9 things India can do to become an excellent place for doing business
Ever wondered how as a nation India stands to become a more lucrative business destination? Do our policies and trade truly support foreign trade and investment? After all, there are rules and regulations that come into effect whenever any international player wants to open its doors in India. For the longest time, India has been deemed not the most friendly of business destinations. For one, our paperwork, especially post 26/11, is slightly crazy.
So how can India become a more investor friendly nation? Well there are a few ways. Like identifying which sectors we can actually manufacture in. This is a way to truly gauge the potential of the Make in India campaign and figure out what can actually be made in India. Then there’s the chance to create dedicated freight corridors, or spaces dedicated to easy transportation from factory to ship. There’s many such measures India can take to augment investor relations. Read the article to find out.
Why Inflation Stands In The Way If India’s Growth Recovery
When demand exceeds supply, the economic condition of a nation becomes precarious. Mostly giving rise to inflation. The promise of a quick vaccine, India’s higher-than-expected gross domestic product (GDP) numbers for the Sep-ended quarter, and a booming stock market suggest that the risks to growth may be declining. But there is one big hurdle still: persistently high inflation. And it may well pose the biggest threat to the country’s nascent economic recovery. Read more about it in this article.
You might also want to look at:
Should We Delete WhatsApp? | Business News At A Glance Ep.19