Thought of PM On COVID-19 in the financial era

Covid-19

he Prime Minister, Shri Narendra Modi has shared few thoughts on Linkedin, which might interest youngsters and professionals.

Following is that the text of Prime Minister, Shri Narendra Modi’s thoughts which was shared on Linkedin.

‘It has been a topsy-turvy start to the third decade of this century. COVID-19 has brought with it many disruptions. Coronavirus has significantly changed the contours of business life . lately , house is the new office. the web is that the new meeting room. For the nonce , office breaks with colleagues are history.

I have also been adapting to those changes. Most meetings, be it with minister colleagues, officials and world leaders, are now via video conferencing. so as to urge ground level feedback from various stakeholders, there are videoconference meetings with several sections of society. there have been extensive interactions with NGOs, civil society groups and community organisations. There was an interaction with Radio Jockeys too.

Besides that, I even have been making numerous phone calls daily, taking feedback from different sections of society.

One is seeing the ways through which individuals are continuing their add these times. There are a couple of creative videos by our film stars conveying a relevant message of staying home. Our singers did a web concert. Chess players played chess digitally and thru that contributed to the fight against COVID-19. Quite innovative!

The work place is getting Digital First. And, why not?

After all, the foremost transformational impact of Technology often happens within the lives of the poor. it's technology that demolishes bureaucratic hierarchies, eliminates middlemen and accelerates welfare measures.

Let me offer you an example. once we got the chance to serve in 2014, we started connecting Indians, especially the poor with their Jan Dhan Account, Aadhar & Mobile number.

This seemingly simple connection has not only stopped corruption and rent seeking that was happening for many years , but has also enabled the govt to transfer money at the press of a button. This click of a button has replaced multiple levels of hierarchies on the file and also weeks of delay.

India has perhaps the most important such infrastructure within the world. This infrastructure has helped us tremendously in transferring money directly and immediately to the poor and needy, benefiting crores of families, during the COVID-19 situation.

Another case in point is that the education sector. There are many outstanding professionals already innovating during this sector. Invigorating technology during this sector has its benefits. the govt of India has also undertaken efforts like the DIKSHA Portal, to assist teachers and boost e-learning. there's SWAYAM, aimed toward improving access, equity and quality of education. E-Pathshala, which is out there in many languages, enables access to varied e-books and such learning material.

Today, the planet is in pursuit of latest business models.

India, a youthful nation known for its innovative zeal can take the lead in providing a replacement work culture.

I envision this new business and work culture being redefined on the subsequent vowels.

I call them- vowels of the new normal- because like vowels within the English , these would become essential ingredients of any business model within the post-COVID world.

*A. Adaptability:

The need of the hour is to consider business and lifestyle models that are easily adaptable.

Doing so would mean that even during a time of crisis, our offices, businesses and commerce could get cracking faster, ensuring loss of life doesn't occur.

Embracing digital payments may be a prime example of adaptability. Shop owners big and little should invest in digital tools that keep commerce connected, especially in times of crisis. India is already witnessing an encouraging surge in digital transactions.

Another example is telemedicine. We are already seeing several consultations without actually getting to the clinic or hospital. Again, this is often a positive sign. Can we expect of business models to assist further telemedicine across the world?

*B. Efficiency:

Perhaps, this is often the time to consider reimagining what we ask as being efficient. Efficiency cannot only be about- what proportion time was spent within the office.

We should perhaps consider models where productivity and efficiency matter quite appearance of effort. the stress should get on completing a task within the specified time-frame .

*C. Inclusivity:

Let us develop business models that attach primacy to worry for the poor, the foremost vulnerable also as our planet.

We have made major progress in combating global climate change . Mother Nature has demonstrated to us her magnificence, showing us how quickly it can flourish when act is slower. there's a big future in developing technologies and practices that reduce our impact on the earth . Do more with less.

COVID-19 has made us realise the necessity to figure on health solutions at low cost and enormous scale. we will become a luminary for global efforts to make sure the health and well being of humanity.

We should invest in innovations to form sure our farmers have access to information, machinery, and markets regardless of what things , that our citizens have access to essential goods.

*D. Opportunity:

Every crisis brings with it a chance . COVID-19 is not any different. allow us to evaluate what could be the new opportunities/growth areas that might emerge now.

Rather than playing catch up, India must be before the curve within the post-COVID world. allow us to believe how our people, our skills sets, our core capabilities are often utilized in doing so.

*E. Universalism:

COVID-19 doesn't see race, religion, colour, caste, creed, language or border before striking. Our response and conduct thereafter should attach primacy to unity and brotherhood. We are during this together.

Unlike previous moments in history, when countries or societies faced off against one another , today we are together facing a standard challenge. the longer term are going to be about togetherness and resilience.

But logistical experts lately can control global supply chains through the comfort of their own homes. India, with the proper blend of the physical and therefore the virtual can emerge because the global nerve centre of complex modern multinational supply chains within the post COVID-19 world. allow us to rise thereto occasion and seize this chance . I urge you all to believe this and contribute to the discourse. The shift from BYOD to WFH brings new challenges to balance the official and private .