Why in news?
Amid talks over over extending the 21-day nationwide lockdown, the Confederation of Indian Industry (CII) has suggested to the government to follow a phased reopening plan with sectors such as manufacturing and construction, that provide mass employment, re-started first
- The CII also sought a fiscal support package for FY21 limited to 2% of the GDP to support the lowest strata and the informal sector and ₹2 lakh crore be transferred to JAM account holders.
- For lifting the lockdown, the industry body has pitched for a “re-start calendar” across cities and States, based on a dashboard that can monitor curves of various key cities and States.
Phases of lockdown by CII:
- In phase 1, it said sectors where work-from-home is difficult and which provide mass employment could be re-started to protect low-wage employment. They include manufacturing and transport.
- In phase 2, which could start 2-3 weeks after phase 1, other sectors could be allowed to start.
Truck drivers and migrant workers willing to come back should be facilitated, dhabas on highways petrol/diesel stations and repair shops on highways should be opened, adding logistics service providers must extend insurance cover of about ₹10-15 lakh for a period of three months to the workers and their families.
- To get back migrant workers, the CII suggested a COVID-19 insurance scheme for three months for which part cost could be borne by the government and part by the industry, besides an aggressive ‘messaging’ campaign.
- Confederation of Indian Industry (CII) is a non-government, not-for-profit, industry-led and industry-managed organization, playing a proactive role in India’s development process. Founded in 1895 and celebrating 125 years in 2020,
- It works to create and sustain an environment conducive to the development of India, partnering industry, Government, and civil society, through advisory and consultative processes. One of the major functions of CII is to strengthen industry’s role in the economic development of the country.
Functions of CII
- To identify and strengthen industry’s role in the economic development of the country
- To act as a catalyst in bringing about the growth and development of Indian Industry
- To reinforce industry’s commitment to society
- To provide up-to-date information and data to industry and government
- To create awareness and support industry’s efforts on quality, environment, energy management, and consumer protection
- To identify and address the special needs of the small sector to make it more competitive
- To promote cooperation with counterpart organisations
- To work towards the globalisation of Indian industry and integration into the world economy
- Confederation of Indian Industry (CII) has launched a Fiscal Performance Index (FPI) to assess state and central budgets.
- The Index incorporates qualitative assessments of revenue expenditure, capital expenditure, revenues, fiscal prudence and the level of public debt.