One of the major areas in the operational framework of Haryana where sufficient improvement needs to be made is investment. The overall social and economic infrastructure needs to be improved further than how it has been done so far. The approval process, which is something that is being is looked at, at the national level as well, needs to be made smoother than before so that it can function better. Investment also needs to be promoted in the state so that its economic condition becomes stronger than before.
One of the major problems facing the state has been the various bottlenecks in administrative procedures. These have been a major hindrance to the state realising its true potential in the industrial sector. The supposedly minor sectors of Haryana's economy like the small, medium and micro organizations have been hit hard to varying degrees as a result of the economic condition of the world in the last couple of years. If the government wants to achieve all round economic development it would be advisable that it looks into making them less vulnerable to global economic setbacks. It is necessary to empower this sector by providing them greater opportunities of work and also make accessible to them the tools and implements that will help them perform several notches higher.
More than the larger and reputed companies these smaller enterprises can be regarded as the true drivers of economic growth as they employ more people, albeit at lesser salaries and perhaps fewer perks. They prepare professionals so that one day they are able to work at the more well-known companies and thus have a nice life for themselves. In the economic sector, it is also important to incentivise excellence. It is said that when people have an aim they tend to perform better and, on the whole, the standards are lifted.
This can be done in several ways like waiving off taxes or providing more high paying projects. It is also important to bring more private enterprises, which have been performing well, in the governmental fold by entering into partnerships with them and carrying out key projects with them, especially ones that are related to development of infrastructure. However, with the exception of the infrastructure sector, the government has to start looking at other key domains such as agriculture and manufacturing.
The manufacturing sector of Haryana has a decent base but it still faces some key problems that need to be addressed on an emergency basis. Its main issues are insecurities related to its economic well-being and its reaction to the competition it is facing from around the world. For these problems to be solved it is essential that innovation is encouraged especially in terms of policymaking. In order to be able to deal with any potential global economic crisis it is important that the state is able to diversify its exports and also increase the overall capacity of its various industries.
Along with the sectors that have been mentioned above there is a requirement to look at empowering the knowledge sector as well as the various industries that deal with high technology. Strengthening these sectors will make sure that more people with varying skill sets are able to find jobs in Haryana itself and do not have to look for opportunities elsewhere. Usage of various energy resources also needs to be done on an efficient basis.
In addition to economy, education is also an important area and the state needs to acknowledge that and take affirmative steps in that regard.