In 1867, REFORMER Bholanath Chandra wrote, “A widely diffused enterprising spirit is always the antecedent to that widely diffused national prosperity, through which alone can our nation ever hope to occupy a conspicuous position in the eyes of mankind. Such was the state of India once, and such ought to be the state of India again”.
We believe India's enterprising spirit is held back by regulatory cholesterol and are confident that three reforms—decriminalisation, digitisation, and rationalisation—will increase our population of employers with the productivity to pay high wages and take India to its rightful place among prosperous and democratic nations.
History suggests that there are no poor people; just people in poor places; most of your wages are determined by where you live (country, state and city) and where you work (sector, company, and skill). India's challenge is simple: our mass prosperity is held back by wages rather than jobs, high wages are held back by a shortage of non-farm employers with high productivity (our 63 million enterprises only translate to 28,000 companies with a paid-up capital of more than 10 crore) and this employer population is held back by compliances/filings/ jail provisions (over 85,000), irrational workflows (too many people, departments, and governments involved) and subjectivity in interpretation (show me the person, I'll show you the rule).
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
VINE TO VINO
Calling all wine lovers to explore India's wine trails and vineries
TIGHT FINISHES AT TOLLY
RAZOR-SHARP COMPETITION WAS THE ORDER OF THE DAY FOR ROYAL RANTHAMBORE BT GOLF'S KOLKATA LEG AT THE HISTORIC TOLLYGUNGE CLUB
Helping More Indians Fly
We need to think and dream big, and combine that with flawless and speedy execution, accompanied by deep reforms
Fighting The Dragon
China's subsidies and export strategy have accelerated its dominance in the EV space. Amid fears of EV 'dumping', can India withstand the Chinese onslaught?
Buckle up for the Ride of a Lifetime
Many IPOs flunked, while several fell below ethical governance standards, and quite a few bombed. However, the capital markets have their own way of self-regulating excesses
❝Slow down but stay involved"
IndiQube provides flexible workspaces
Ready for Take-off
Total passenger traffic has grown from around 120 million to over 236 million per annum. Indian aviation sector continues to soar, and the best is yet to come
BURMANS IN CONTROL
After a long battle, the Burman family has seized control of Religare. It needs to infuse money and get it back on track
Reimagining India's Public Sector
India's policies since 1991 have been to get government out of business' way. Robust public sector is needed for providing basic needs equitably
No Theme Lasts Forever
A sensible investment strategy involves ignoring the noise and using a systematic criterion to pick assets. A good investment strategy can be boring
