Atma Nirbhar Bharath: Freedom from the despondency created by Covid-19.
Opinion: Shantaram Lal
As innovation being the enabler of economy, the first pillar, putting soil & water sensors, weather trackers, satellite imaging, vertical farming, farm automation & robotics into use will create increased crop productivity, decreased chemical usage, positive impact on natural resources in turn maximizing the job creation. Additionally animal genomics will ensure improvised livestock management.
Infrastructure,the second pillar, is the key driving factor. Electronic vehicles along with improvised public transport will control pollution plus the road congestion that are impacting the quality of life.
Machine learning & AI technologies will redefine healthcare, consumer management, construction and linkage of modern cities. Efficient distribution of resources along with effective monitoring & testing of resources will alleviate challenges resulting from increased population concentration.
AI & ML driven security systems like drones & CCTV will fortify our landscapes. Advancement in processes like recycling, reduction of corbon footprint will be effective in dealing depletion of natural resources due to accelerated development.
Besides above, modern processes like improving the ease of doing business, decriminalization of minor company act violations & inadequacies will empower the third pillar, systems.
Demography that form the fourth pillar comprises mortality, fertility, and migration. Robust healthcare consisting modern medication and disease prevention processes, rationale family planing along with increased food productivity, policies controlling improvised fertility to establish gender equality will lead to creation and sustainability of vibrant healthy young population. Balanced automation results in job creation inturn will positively affect migration.
Final pillar demand is about fully utilizing demand supply chain.
Technology is one of the economic forces that can influence the demand supply curve. Factors like income, population, availability & price of alternatives can cause the demand curve to shift. Improved production efficiency due to technological advancement will shift the supply curve to positivity.