How Uttarakhand goverment can boost their economy in this pendamic?

As we know that India is fighting with a terrible disease which is Covid-19  and facing hudge economic loss but if I specifically talk about Uttarakhand, so it is one of the beautiful and fastest growing states in India which is generally famous for enchanting beauty of their hills and pilgrimages. And it always be a first preference of tourist for trekking purpose. But it also facing colossal deflation in their economy. so here I am sharing some ideas which help Uttarakhand's govt. to get bouancy in their economic rate. But first we have to know about some nitty-gritty of economic concept.

 * So basically Economy  is a social activity where people come together to produce, stock, distributive, trade and facilitate consumption of goods and services .

And we have to know that Economic growth and Economic development  both are different concept. So first government should focus on economic growth.

What is Economic growth????

It is the Quantitative difference in production of goods and services between two poont of time. If the difference is Negative  it is called Degrowth.

 

It define as the total market value of final goods and services produced with in a country in a given time period like, financial year, calendar year, fraction like quarter.

   GDP (Gross).                          NDP (Net)

        |____________________________|

                           -depreciation 

*Depreciation-- reducing value of an                                       assest with time.

* GDP - depreciation = NDP

*Items included and excluded in GDP:-

• Inventory is included.
• GDP considers only market goods. 
• Care econmoy not included. So, if cleaner is hired their pay is included but one self is not included.
• Only final goods are included.
• Imputed value included.
• Resale is not included but commission of agent is included.
• No second hand goods only newly produced goods are included.
• Transfer payment not included. Eg.(pension, scholarship)

  *Sectors of the economy:-

*Contribution of sectors in India's GDP:-

• Tertiary sector (more than 50%)...
• Example- telecom, tourism, media, pharmacy, hospitals.

• Secondary sector (Less than 30%)...
• Example- food processing, oil refining & energy production, electricity, contraction.

• Primary sector (Less than 20%)...
• Example- raw material, mining, fishing, agriculture.

*Economical statistics of Uttarakhand:-

           Information source (wikipedia)

*GDP by sectors of Uttarakhand:-

• Agriculture (10%)  [Primary]
• Industry (52%).       [Secondary]
• Service (38%)           [Tertiary]

*Limitation of GDP:-

• Does not cover black money.
• Does not cover care economy.
• Informal sector is not covered.
• In rural economy, barter system is used sometime, that is not covered.
• Social service are ignored as it is unpaid.
• Poverty is not revealed.
• Inequality is not indicated.

GDP is used as a measure of growth not development.

*Points which help government to increase there GDP:-

Provide subsidies to farmers:-

Uttarakhand's economy mostly depends on secondary sectors but  government should focus on their primary sector because only Agriculture sectors holds their 10% of GDP. So they should provide subsidies to farmer so they can produce large amount of grains. 

Provide loan with low interest:-

Most of the commoners are facing recession in their business so government should give them loan with low interest 

Because if they get loan so production⬆ & demand⬆ increases and then automatically GDP⬆& Tax revenue⬆ increases .

Education sector:-

 

Most of the schools and colleges are providing online classes to their students 

But in some areas specially in remote areas student did not getting benefit of classes, so government should make it mandatory for all educational sector because private institute teachers are also facing faincial crices so if classes started so they get salary for their bread & butter.

This idea did not give too much boom to our economy but it definitely work for making splendid future of Uttarakhand's students.

Lipulekh pass dispute:-

If Lipulekh pass dispute will get solve so Uttarakhand government can easily earn because this road connects Pithoragarh to Kailash mansarovar and every year most of people go for kailash mansarovar yatra, so if nepal ask for reconciliation then government can easily earn revenue by Tourism  and also generate employment  during road's renovation.

Reopen gyms:-

In only Dehradun (capital of uttarakhand) there are 300+ gyms which was feeding families of gym trainers and helpers. So here government should think about their families and reopen gym with some restrictions. 

For example:

•  18-30 age group allowed in gym because they have strong immunity.
• Mask, sanitizer, gloves should be mandotary in gym.
• Temperature measurement gun should be there.
• Increase timing of gym so it can prevent mass gathering.
• Proper sanitization of weights, dumbles and machine everyday.

Here i mention article of Times of India👇

Gym trainers are protesting in dehradun

If our country did not achieve their economical goal so middle class become poor➡poor will be decimated and crony capitalist will own the country. So support government in this critical situation.

So that's for all today guys if you have any opinion and idea realated this topic please comment down below and also share this article👇👇

       

                THANK YOU 🙏