Teacher | Posted on | News-Current-Topics
Is make in India successful or its fail???
Journalist ( News Analyst and Web Writer ) | Posted on
Make in India is the dream project started by Modi government with an idea to generate 10 crore jobs by 2022 and improve and increase the contribution of manufacturing industry sector upto 25% by 2025. This Globally accepted ambitious mission had some real potential to change the core structure of indian manufacturing industry but soon after an year launch of it it did decline in a rapid speed.
This great initiative fell prey to lack of management, planning and execution which in turn is still creating a hot topic for oppositions to tak jab against ruling government.
Since the announcement of ‘Make in India’ on August 15, 2015, there is no evidence that manufacturing has gathered momentum. On the contrary, it seems to have lost steam and, in 2016-17, the sector had weakened considerably. Between Q1 and Q4 of 2016-17, the growth rate of manufacturing GVA had halved. The weakness of the manufacturing sector is reflected in the steady drop in the growth rate of overall GVA. The conclusion is that apart from the announcement of ‘Make in India’, there has been little policy or administrative support. All other data point to the same conclusion. In the five quarters between Q4 of 2015-16 and Q4 of 2016-17, Gross Fixed Capital Formation (GFCF) as a proportion of GDP had declined—30.8, 31.0, 29.4, 29.4 and 28.5. A drop of 2.3% in 12 months is a disaster. Considering that GFCF was 34-35% only a few years ago and the government has done nothing to step up private as well as ***** investment, it is a catastrophe.
Information reference Financial Express
image reference google.com
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