Covid Stimulus Package Can Give A Revival to The Industrial Zone?
Post-lockdown, things have changed drastically all around the world. The worst affected has been the economy of every nation. The pandemic has affected almost every part of the world and India was not far behind in falling prey to it. Thanks to the COVID stimulus package announced by the central government that is expected to provide a quantum jump to the nation's economic movements and pave the path of recovery, post-pandemic. Although the benefits of factory building are still a query for most of the industrialists, the stimulus package is expected to revive the industrial sector.
How will the package benefit India?
The idea of a self-reliant nation can only be made possible when there is a growth of the industrial sector and Micro, Small and Medium Enterprises (also called the MSMEs). The package aims at strengthening the infrastructure and the nation's tech-driven system. The package that is equivalent to around percent of India's GDP is in compliance with the expectations of the industrial sector. The package will help to kickstart the industrial activities again that came to an immediate halt since the nationwide lockdown was announced. It will restore the impetus of economic activities.
Why has the package been introduced?
The stimulus package introduced will let loose the next ripple of economic growth and this will prove to be a boon for those who have put up factory property for sale to compensate for the losses and pay their employees in these times of pandemic. The Central government has analyzed the probable after-effects of the lockdown on the country's economy and took the step of introducing the package beforehand to limit its impact on the economy. It infers the areas of land, liquidity & labor as the key elements and reforms them for the better.
Areas at focus
The package gears towards bringing noticeable and promising reforms in the areas of labor, liquidity, land, and laws because they are the biggest challenges to the economy of the nation. In this situation of the COVID crisis, reforms in these major areas will definitely bring up the possibility of economic growth. These four areas have always been a big challenge to the country's economy and if they are at focus, then the growth will be assured. Post-lockdown, the country would be able to balance the economy well and maintain its position in the global list.
Better times ahead
India can become a self-reliant nation only when its pillars are strong and working on the areas that pose a big challenge to the nation will help us to become a plausible global force that emerges out at a strengthening position. We will be able to reach out to the world easily who will look at us with a sense of responsibility. Thus, with this stimulus package, the companies who look for the industrial factory for sale have already started to expect a revival in the industrial sector. This will ultimately attract investment from all areas of interest and help us in sustaining a long way.
All the industrialists are excitedly waiting for the details of the package which focuses on boosting the Indian economy and reviving the industrial sector. Undoubtedly, the response is expected from all corners of the country which will contribute to stabilizing the economy of the nation. India will then be able to position themselves for post-pandemic recovery. The stimulus package will, in turn, support the efforts of the industrialists and help them provide a safe environment at the workplace which will further reap sweet fruits. It was a need of the hour to introduce something like this for refueling the economic fundamentals.