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White paper to strategize revival of post-COVID 19 Indian economy

  • Category
    Economy
  • Published
    29th Apr, 2020

Context

The Technology Information, Forecasting and Assessment Council (TIFAC), by virtue of its mandate of thinking for future, is preparing a ‘white paper’ to strategize revival of post-COVID 19 Indian economy.

About

  • TIFAC is exploring the best methods to revive the Indian economy and reduce the impact on it post COVD 19.
  • This document would mainly focus on strengthening Make in India initiatives, commercialization of Indigenous technology, developing a technology-driven transparent Public Distribution System (PDS), efficient rural health care delivery, reduction of import, adoption of emerging technology domains like AI, Machine Learning, Data Analytics and many more.
  • It will be soon submitted to the decision-making authorities of the Government.

What is white paper?

  • A whitepaper is a persuasive, authoritative, in-depth report on a specific topic that presents a problem and provides a solution. 
  • These policy documents are produced by the Government that set out their proposals for future legislation. 

Background:

  • The entire globe has come under one umbrella to fight against COVID-19.  The pandemic outbreak is affecting the human life of both developed and emerging economies, with the impact spread over almost all sectors ranging from manufacturing to trade, transport, tourism, education, healthcare, and so on.
  • The extent of the economic impact will depend on how the pandemic outbreak unfolds and also the containment strategy of any Nation.
  • India, so far, has taken a set of well thought out steps to control this pandemic, lockdown at the initial stage being a significant one.

About TIFAC:

  • TIFAC is an autonomous organization set up in 1988 under the Department of Science & Technology to look ahead in technology domain, assess the technology trajectories, and support innovation by networked actions in select areas of national importance.
  • TIFAC continues to strive for technology development in the country by leveraging technology innovation through sustained and concerted programmes in close association with industry and academia.

All Government departments, research institutions, civil society bodies, and, more importantly, citizens of India have joined hands to offset the impact of COVID 19 to the maximum extent possible. This recent effort by TIFAC will help in showing a way ahead to strengthen the Indian economy post-COVID-19.

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