Types of Relationships between the Input and Output
The scatter plot can be a useful tool in understanding the type of relationship that exist between the inputs (X’s) and the outputs (Y’s) No Relationship: The scatter plot can give an obvious suggestion if the inputs and outputs on the graph are not related. The points will be scattered throughout the graph with no […]
Job Analysis and Human Resource Planning
A Job can be described as a group of tasks which is assigned to the individual employees for ensuring achievement of the organizational goals. When this job is analyzed in terms of determination of the skills, duties and knowledge required for completion of tasks, it is regarded as Job analysis. In the words of Geisler […]
Economics of Mobile Phones in Africa
In the developed world, mobile phones are something that we take for granted. The biggest purpose of a cell phone is to entertain its owner. Cell phones are used by people to connect with their loved ones, play games and log on to the social media. This is the reason why people in developed countries […]
Employee Relationship Management (ERM) through Information System
Introduction Employee relationship management is management of relationship between employees and employers. It is made up of initiatives which improve employee morale and loyalty towards the company. Employee relationship management approach looks to maintain effective relationship through three way approach of continuous communication, conflict resolution and employee development. Importance of Employee Relationship Management Employee is […]
Why Project Managers Must Focus on Last Mile Connectivity to Ensure Success
How Projects Fail Due to Poor Implementation and Last Mile Connectivity Most projects are planned properly and conceived rightly. However, they often fail because of poor implementation as well as flawed execution on the ground. Indeed, the last mile connectivity or closing the loop from planning to execution is what determines the success of projects. […]
The recent report by the World Bank about doing business in India places the country at 130 among the nearly 180 countries surveyed. India has risen by four places as compared to 2015 and other parameters in the index have improved.
The change of government in 2014 which ushered in a pro business and pro-reform dispensation headed by Prime Minister Narendra Modi is cited for the noticeable increase in developmental indices such as the GDP (Gross Domestic Product) growth rate, FDI (Foreign Direct Investment) inflows, and an overall increase in competitiveness.
For instance, the GDP growth for the last two years has been above 7% (though there are some doubts about the methodology followed), inflation has been tamed and cooler at around 5%, the FDI for the last year has been at $63 Billion surpassing even China that has been a global benchmark for the last decade or so in terms of attracting foreign capital. All these measures seem to indicate that India is indeed a “rising star” and is being seen as the “fastest growing major economy” in the world.
Having said that, it must also be noted that while the market sentiment and the investment climate has improved, much needs to be done on the ground for India to be able to fulfil its potential as a “Caged Elephant” that can overtake the “Asian Tigers”.
For instance, the ease of land acquisition is still yet to be reformed, and successive governments including the present one have tried without success to pass legislation that is business friendly and inclusive at the same time. In a similar vein, the ambitious GST or the Goods and Services Tax Bill which envisages a unified market under one tax rate is stuck in Parliament despite the Modi government expending significant political capital on its passage.
In addition, if the ease of doing business in India has to succeed, there needs to be reform of the labour laws as well as noticeable improvement in the physical and virtual infrastructure.
Further, the success of any attempt to make the Indian economy investor and business friendly would also have to take into account the slow moving Judiciary, the rampant corruption that has corroded all the institutions and has been a bottleneck for economic growth which can only happen with a mindset change at all levels and in all sections of society.
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What the Current Wave of Protectionism and Populism mean for the Future of Globalization and Free Trade
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