NEW NORMAL

 This time we will be taking a point which has political angle, but it is more relevant to economy. In year 2010 to 2014, we used to heard and read in daily news paper had like we are going to import electronics goods and coal from different parts of worlds. The amount for this imports would have been $500 B. Huge amount were invested to give lectures to government at that time. After regime changed in 2014, things continued for some time. The manufacturing sector was negligible or on the verge of shutting down the sector due to cheap imports from China and neighboring countries. Once the government started to take decision like reducing duties on semi knockdown  units of mobile handset, followed by charging unit. The duty difference made companies from China to invest in country to assemble mobile set. The result of this came slowly but in positive direction and with firm ground. Pandemic proved very beneficial for our economy with prudent management of economy. With lowest inflation

 RBI's policy for inflation containment had been announced, rate pause is continued this time too. Rate hike is not going to move northward in near future. Though the rate will not decrease in near future. But rate hike stopped is also equal to rate decrease. The US Fed has paused the rate hike and it is expected that other central banks will follow same path. The reason for the inflation in each country is different with different weightage of basket like in our country the food basket  have weightage of around  40%  but 40% weightage in US is for housing sector. The conditions after pandemic is different for every country as each one took different steps to help or ease living of citizen. But reverse migration around the world at that time created problems which are not faced earlier. The war created situation which added problems than solving earlier one. The prices of commodities increased after unlocking of world, the rate hike in food with labor shortages in developed economy

 Second PLI for IT Hardware announced with new application for ISM have been called. The base year for investment in IT Hardware has to be fixed by investor which is 2024/2025/2026. So the planning and execution is in hand of investor so to get manufacturing and other activities as per their planning. The lacunae of earlier plan has been addressed and incentive increased to make it more attractive. Same is for Indian Semiconductor Mission has been renotified with rider to give chance to those who applied earlier. The total outgo for the same is around $10B, which means fifty percent of project cost will be given to investor in period of time. The total exercise is to make our country self dependent in electronics manufacturing with complete ecosystem. The ecosystem with design, tool and raw material. Both schemes are announced after extensive consultation with stakeholders. The thought process is clear to give the industry a very much needed platform to achieve the scale to capture the

 9 years have been passed, the present regime in center is working in right direction. The analysis is and will go on, which is not topic of our samwad. These  nine years we have used to clean the system along with collecting real data of our citizens, the collected data is collated for future planning. The impact of the exercise is huge as real time data is authentic and given by end user himself. For example, if someone want to take insurance for two wheeler either comprehensive or third party, one has to complete KYC so to get insurance. It is retail side which is giving data and it is used to check plans for citizens by authority and financial institutions. The corporate has to give complete data of all its activity to get benefits and avoid unnecessary harassments by authority and financial institutions. Corporates used to give different data to authority and financial institutions to get undue favors. Now, data is being shared amongst authority and financial institutions and it g