The Government of India and various State governments have been implementing a number of schemes and programmes over the years. A continuous effort from the society is also needed, where citizens are encouraged to  2  BIS central bankers’ speeches  come up with their entrepreneurial initiatives. Going forward, we must develop an attitude that views innovation positively.
Fiscal policies should be designed so that they support the economic recovery by focussing on productivity-enhancing measures. At the same time, fiscal rules need to be respected to build confidence in the sustainability of national finances. More decisive action by national governments and respect for the rules that we have commonly agreed on is essential for a stronger and safer Economic and Monetary Union.