Chapter 15; Economic Reforms for Big Enterprises
Minister Kapoor, who had been a staunch proponent of rural development for years, came out in his support. "This is a step forward, Prime Minister. People in our country need these facilities, and by getting financial institutions closer to them, we set the underpinning for a platform of economic independence."
"The meeting is adjourned..!"
The next day.
The next, which targeted agriculture, SMEs, and financial access, had been very fruitful, but now would turn out to be a different ball game-it was going to be all about the large enterprises. This chunk of reform had been highly controversial during the planning stage as it required extreme volumes of alteration from highly lodged industries and corporations.
With Animesh sitting down, a tangling sense of anticipation grew over the table. The seniors from different ministries, industry representatives, and economists knew what was the play here; those reforms would affect some of the country's major companies and millions of jobs and the economy in large.
"Good morning, everyone," Animesh began. "Today, we're here to discuss the economic reforms targeting large enterprises. These reforms are important in creating an environment where our biggest companies can be happy while also fitting our vision for balanced and inclusive economies. Not only for growth but for sustainability, sustainable wealth distribution.".
With a pause, after he had indeed let those words sink in, he continued: "Let's get started with the first reform area: enhancing corporate transparency.".
Reform Proposal 1: Corporate Transparency and Accountability
Animesh began with the need for large enterprises to be transparent; such a need had been growing increasingly pressing. Large corporations would have to make available to the public regular updates on financial, social, and environmental impacts under this reform. These reports would thus ensure that corporations were accountable, especially in resource-intensive sectors.
"Transparency isn't just about compliance," Animesh said. "It's about building trust with the public and showing that corporations are aligned with our goals for responsible and sustainable growth. That includes regular environmental and social governance reporting and clear, ethical business practices.".
The minister, Mr. Mehta, who is known for backing corporate growth, voiced his views. "Prime Minister, many corporations would resist this based on competitive risks. How do we ensure that it does not stifle their business?"
Animesh accepted this. "Minister Mehta, we will take a phased approach. Initial guidance and support by the government will facilitate the adaptation of transparent practices in enterprises without any fear of being placed at disadvantage. It is a sure shot to bring forth a culture of responsibility that should further help the companies eventually to gain public trust and an even stronger brand image."
The Second proposal : Investment in Reasearch and Development.
The second major proposal which Animesh went for was to increase the investments in research and development so as to augment the innovation driving factor. This government will provide incentive to R&D to this nation and lead in these sectors such as renewable energy, technology and pharmaceutical.
'Our country has a great opportunity to be an innovator,' said Animesh. We will encourage the provision of tax credits for business entities engaged in research and development primarily in those sectors that have a high social and economic return. We are also pioneering government collaborations with research universities to intensify development in such industries."
"To this the Minister of State Kapoor who is one amongst the greatest advocates of innovation, agreed to. 'This, Mr. Prime Minister, is exactly the right direction in which to proceed.' Funding R&D will boost employment in new skills and innovation and help retain talents," he said.
Animesh continued, "Right and the talent that would come in should come from all over the country. We will also provide for internships and apprenticeship particularly to graduates from undervalued regions where they will be able to reciprocate with these gains.
Reform Proposal 3. Fair Competition and Anti-Monopoly Policy
The topic that was highlighted next was on fair competition and anti-monopoly policy. Under the proposed reform, no single enterprise shall be allowed to monopolize a whole sector; this would promote fair competition, forestalling monopolistic practices which might be detrimental to minor players and consumers.
"Our objective here is to prevent the concentration of power in any one corporation's hands," Animesh explained. "Large enterprises will have greater scope for expansion, but with checks so that they do not push out smaller competitors or exploit consumers. We'll establish a commission to monitor and regulate this to create a healthy, competitive market."
The free-market advocate Minister Sinha looked thoughtful. "Mr. Prime Minister, very often, people say that this is a natural propensity of efficient monopolies. Where's the dividing line between healthy growth and anti-competitive practices?"
Animesh says it is complicated. "The regulatory commission will be staffed by industry experts and will focus on practices, not size alone. Companies that grow through innovation and efficiency will be encouraged, but any practice that artificially limits competition or restricts market access will be addressed. We want to cultivate an environment where everyone competes fairly."
Fourth Reform Proposal: Practices That Are Environmentally Responsible
After that, Animesh turned his attention to environmental sustainability, something he greatly believed in. His plan would force large corporations to implement more environmentally friendly procedures with certain waste and emission reduction targets. Companies that actively try to achieve those goals would be eligible for tax breaks and incentives.
"Environmental responsibility is a non-negotiable in today's world," Animesh stated emphatically. "Big businesses have the resources to change things. We hope that these reforms would encourage businesses to lessen their environmental impact. We envision a day in the future when our sectors lead in both sustainability and profitability.
Then there was Minister Sharma, who frequently questioned stringent environmental regulations. "Prime Minister, won't these rules raise operating expenses, perhaps reducing our businesses' ability to compete globally?"
"No, on the contrary, we offer incentives that will help reduce initial costs," Animesh said in summarizing his idea. Furthermore, the global trend is toward sustainability. Early adoption of these reforms will help our industries get ready for global standards and eventually provide them a competitive advantage in global marketplaces.
[How are these two chapters, compared to earliers? Please comment, if you like this way, i will write in the same way..!]