Simple ways for faster economic development

Some of the measures which can be taken with very little investment for faster economic development in India are:

  1. Increasing the working hours  of all industrial, commercial, government and other employees from around 40 hours to 48 hours a week. This will result 20% increase in production in manufacturing sector, increase in value of services etc.
  2. Increasing the retirement age from around 58/60 years to 65 years. This will enable each person to increase his contribution to  GDP by over 15%.
  3. Providing opportunities to those already retired to work either from home or from factories/offices
  4. Introduction of more machinery in agricultural and plantation sectors which, suffers acute labour shortage. Tractors were introduced a few decades ago. Large scale introduction of harvesters, planters, weeders etc should be undertaken.
  5. Encouragement for handloom sector should be given up. Power loom sector should be encouraged in view of labour shortage in spinning, weaving, knitting and ready made garments sectors.

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