Newly-empowered government needs to wakeup

The new government needs to be on track to get set go with a new financial status in the upcoming budget. The industry has been reeling under the pressure of the massive economic slowdown, so now the order of the day after the election manifesto is to seek rigid and concrete measures which is requisite to implement for industry's prosperity.

Recently, the appointed Finance Minister Pranab Mukherjee has taken the charge of the finance ministry which means via heading ministry in the newly-empowered government will bring relief to some extent.

Mukherjee has already opined that he would address the issue of slackening growth through focusing on investment, particularly in the infrastructure sector. The industry stalwarts expects that the government needs to witness the situation of downturn closely and give steroids at this juncture not vitamins.

I think now the political agenda in the new government should include in-depth analysis of the crisis and proper consultations rather than encouraging ruthless political speculation within the government.

Time has arrived for the new government to encourage and focus on areas which has hit hard the Aam Admi. We need to safe millions of workers who have lost their jobs in the midst of the present economic crisis and restore the growth momentum.

I hope the next union budget would likely address the problems of varied sectors that are fighting under the financial turmoil. The government should encourage investment and also take steps to promote consumption of demand.

Recession will not last very long if proper prop up steps are taken to protect the economy. In fact, when earlier recession has hit hard the key markets such as US and UK, many jobs disappeared due to the crisis but the current recession has just gathered the steam of washing out employment opportunity as of now. In fact, the Obama administration is busy finding deliberately the reason for loosing jobs in the US nation.

Nonetheless, the Prime Minister of India has always put forward his view saying that India has still been insulated from the current crisis. If this is so, are we in a dilly-dallying situation where on one hand we know that India is insulated from the crisis and on the other hand we are reacting via witnessing the global financial meltdown. What is the fact, we need to be clear not confused, Isn't it?

Let us be lethargic and watch out what the new government is cooking for us.