Time for New Reforms in India

Introduction

What does reform mean? When people say they want more reform, what are they actually talking about? Reforms are basically corrections of the decisions made in the past, which now generates ineffective and inappropriate outcomes. The problem with going back and correcting prior actions is that the economy and the surrounding that have grown up around them, as well as the market actors who have built companies models according to those conditions, will be disrupted. But change is the only permanent reform.

Context

  © Times of India

However, change is always resisted by well-established groups that lose a lot compared to a big population that benefits a little individually. This is the problem that arises often. The same happened with the agriculture laws. In spite of having very obvious benefits, the reforms are still resisted continuously. Apart from that, India has an urgent area to focus on right now, where reforms that are past due may help us and may not be as controversial and disputable.

Current Scenario

Our Prime Minister, Narendra Modi, referred to the decade as "India's TechEd" (technology + decade), saying, "This is how top specialists are looking at it". Probably in the next 10 years technology will be a major factor in the global economy. Both US and China are early adopters of the technology and are now in a rat race. And even many companies in the world are tech companies, out of which India has 10 tech companies. Covid-19 played a major role in driving India towards the TechEd society. From automobiles to retail, all sectors have slowly adopted tech.

But, in order to take full advantage of the “TechEd India”, we need to add on several small and big reforms as well. Health and Education are the subjects we often talk about, but we do not value the investment they need. In terms of government expenditure, we spend a total of 5 per cent on health and education combined according to ‘The Hindu’. Whereas most countries spend more than three times what we do. Our primary education is disorganized, and our elementary education is lagging behind. Unschooling and malnutrition affect a good number of the young population, but this does not some election issues like agriculture. This is the point at which immediate action is required because its effects are not seen immediately.

National Family Health Survey (NFHS 2019-21), a recent survey said that India’s total fertility rate is attached to below the replacement level of 2.1. Can’t we consider this as an “urgent require for reforms”’, because the young will begin to dwindle over time, and these young adult people, afterwards, who have not had sufficient learning will become a burden unless their health, education and skills are targeted? We cannot start the expectation of “TechEd India” with vast ill-equipped and unskilled citizens to deal with the future.

Investment in education and health should use some intelligent methods. Making learning interesting and engaging is where people can start enjoying learning and interacting. India needs to align the curriculum of universities with the needs of the future- biotechnology, machine learning, computing and all the developments that will further reshape the country and thus make teaching and research attractive professionals of more practical exposure. “TechEd” can be India’s movement, but India needs to grasp it in all aspects.

Conclusions

For India to shine through this difficult period, it must undergo necessary reforms.

Written by Ms Aryaa Parida, BSc in Economics, 2nd Year, Department of Economics, Faculty of Behavioural and Social Science (FBSS), Manav Rachna International Institute of Research & Studies (MRIIRS), Haryana