Suggestions to revive Indian economy:

1. Focus on savings and private investments:

India survived 2007 crisis because of saving habits in middle class household. It acted as a buffer and
also kept the private investment cycle going ensuring liquidity and demand generation. OUR Savings
GDP % has gone to 30-31% which is much lower than 36-37% as it used to be around 2004-05.  We need
to give lucrative offers to citizens to give them focus on savings.

2. Cut down lending rates:

India is giving employment opportunities to 50 million people through small scale business. These are
largely in the unorganized sector and have suffered twin blows of GST and demonetization. Their access
to capital has been limited and a cut down in the lending rate could boost their morale to expand and
grow, thereby generating more employment.

3. Simplification of GST

Our indirect tax system has been complex multi-layered for some time now. People thought GST would
simplify it. However there are multiple slabs in it and the fact that many end products are in total of
individual products who have multiple rates for SMB’s and MSMEs. This needs more simplification.

4. Simple Labour Laws:

Our labour doesn't have much access to the markets outside, even though cheap capital flows into our
country for the multinationals. We need better negotiators to leverage our demographic dividend.  We
have a trade deficit of over $50 billion with China. We cannot let this happen for too long.

5. Agriculture needs global push

One of our core strengths as a nation is agriculture. We are nation abundant with resources and arable
land. Fertile and blessed with rivers and all seasons, we should be an agricultural superpower. Ironically
our farmers are in distress and their suicides have only increased over the years. We produce rice,
wheat, other vegetables and milk at a price cheaper by 6-7 times compared to the world. It is a
mammoth competitive advantage that we haven't leveraged.