Panel to revive Delhi economy sets focus on boosting demand

Jasmine Shah said, “In the next three to six months, the focus will be on ensuring the survival of businesses and various industry sectors by revisiting licensing norms, simplifying Covid-19 related regulations and taking measures to revive demand.

In its first meeting on Wednesday, the 12-member committee, set up by the Delhi government to accelerate economic recovery in the wake of the Covid-19 pandemic, decided to focus on revisiting licensing norms and increasing demand to push trade and industries.

The committee has representatives from the government, municipal corporations and trade and industrial bodies. (AFP)

“By opening up the lockdown early and putting a robust health care strategy in place, the Delhi government has set the right ground conditions for economic recovery in the capital city. The effects of that are being seen in terms of declining positivity rate, new cases and hospital bed occupancy. By working together with industry stakeholders, the Delhi government is keen to come out stronger from the economic shock caused by Covid-19,” said Jasmine Shah, the head of the 12-member committee.

Shah, who is also the vice-chairperson of the Dialogue and Development Commission, an advisory body to the Delhi government, said, “In the next three to six months, the focus will be on ensuring the survival of businesses and various industry sectors by revisiting licensing norms, simplifying Covid related regulations and taking measures to revive demand… Several industry members expressed the urgency of undertaking measures to revive demand by taking industry-specific measures such as permitting outdoor sitting and extending hours of operations of restaurants.”

“In three years, the committee agreed to focus on revival of the business environment by accelerating the pending reforms related to ease of doing business. Key pending reforms are needed to be taken up now that would further improve the ease of doing business in Delhi and ensure a full economic revival from the impact of Covid-19, especially for MSMEs,” he said.

Brijesh Goel, a member of the committee, who represents trade bodies, said, “Proposals on rebate on commercial power bills, at least for the lockdown period, and automatic renewal of all licences and no-objection certificates, including those in the areas of trade, factory operation, fire and environment, till March 31, 2021, were tabled in the meeting.”

The committee has representatives from the government, municipal corporations and trade and industrial bodies.