For a long period the aggregate consumption of economy
is badly hit due to gradual fall of earnings of individual. And ineptly general
price level is shooting up. The economics of today hit its own fundamental. It
may have two implications – firstly, specific class consumption keep hold of
the existing supply irrespective of higher prices or secondly the minimum need
of survival push marginal class to negotiate with their meagre nutrition
desire. With reference to the first point the social class which are still
guaranteed by a secured monthly income contributing well to the consumption
figure of the economy and also the high paid income class which is bearing with
salary cut not at all in condition to negotiate with the necessary demand but
may curtail luxuries and spending on speculation to an extent. For the second
category a more stay on the ‘caravan of crisis’, beyond poverty absolute will
cause a dejected level of malnutrition in society. On ground of survival it is
more than death of causes which since independence are predominant despite
policy initiatives.
With an effort to get it
back to the normal course along with unlocking productivity vitals it is more imperative
to widen scope of income generation for the marginal class which are starving inexorably.
Availability of resources more than the necessity may be subject to wastage but
at this hand to mouth situation the multiplier value of asset creation will be
higher. Though the state of affairs ceases to less bargain scope with working
class and needs care of minimum wage rule under strict administrative control. A
day and night work is highly required from the highest authority as well as all
decentralised cubicles to monitor socio-economic mess now. It is now an essential
policy obligation to keep abreast of administrative functioning at all levels. To
sustain with our resources without fail may mean best achievement in the
post-pandemic scenario. Apart, it is also worth mentioning that the effort of
correcting the plunging GDP figure by picking up the pace of industrial activity
may not produce well if demand side not taken in proper pursuit. Industrial production
and rejuvenated demand obviously backed by real purchasing capacity both are
necessary to keep the call of sustainability alive. So the right management of
a single penny is obligatory for both governments and people. A mistake by a
chance will be a basis of bigger liability in near future. The time to a great
extent needs an austerity measure. Beyond absolute economic concept some social
and political events will also enhance the economic dimension.
Festival Economy: With the gradual unlocking of facilities, the Bengal is bracing for biggest festival ‘Durgotsav’. More than a festival it’s a celebration of coming back to life. Ignoring all realities, the heart seems to be humming. The festival has two economies, one of heart and the other of society. After a long quarantined life the ‘Durgotsav’ will add fresh air to the livelihood. Even if it is little, some work will be available for cottage industry. It is a generous side of a stalled economy. And more scope will gradually opened up at times as Bengalis celebrate thirteen festivals in twelve months.
Election Economy: Election
is a biggest democratic process for populous countries like us. Five Indian states
Kerala, Assam, Puducherry, Tamil Nadu and West Bengal are gearing up for upcoming Assembly election in 2021. And as
usual a big amount of money will enter market through advertisements, campaigns
etc. I think expenditure on election process is not wastage of money until and
unless it is being used to lure supports in favour without healing touch of
market mechanism. In our plural party system most of leading parties which are
running governments have more capacity to spend. And it is a point of comfort
as they are already shouldering the responsibility of running governments as
well as welfare of people so less chance of unprofessional conduct of fund is
there. In such a crisis period funding for poll process will be add on to m-cap
I think.
It is time demanded to
utilise all small piece of happening to materialise in a judicious way to
unfold an optimal for the economy as well as society. This motive if coupled
with a habit of austerity the objective of sustainability will surely be
fulfilled. And in the post-pandemic situation we will remain ready enough for a
take-off. Insufficiency makes life cohesive – it will be proved again.
Festival Economy: With the gradual unlocking of facilities, the Bengal is bracing for biggest festival ‘Durgotsav’. More than a festival it’s a celebration of coming back to life. Ignoring all realities, the heart seems to be humming. The festival has two economies, one of heart and the other of society. After a long quarantined life the ‘Durgotsav’ will add fresh air to the livelihood. Even if it is little, some work will be available for cottage industry. It is a generous side of a stalled economy. And more scope will gradually opened up at times as Bengalis celebrate thirteen festivals in twelve months.
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