UP CM Maharaj was gracious to have the shopkeepers released and had senior officials speak to the kid. But this has set a precedent. People who set up crackers shops do not run it year around. They take a loan and purchase crackers less than a month in advance. The shop /1
itself stays for less than a week. After seeing what happened this year, the manufacturers will not take out a loan to make crackers and shopkeepers will not take the risk of stocking firecrackers. Sales volume will automatically go down. We are being given a live lesson in /2
economics how arbitrary application of rules, multiple authorities making rules- SC,HC, NGT, Central and State Governments and local municipal authorities - give rise to regulatory uncertainty and thereby kill industry. Even if we revive the crackers business, we will /3
probably rely either on a few major manufacturers who can navigate uncertainty by deep cash reserved to tide over difficulty and the reach to influence policy. The easy alternative will be to import. Atmanirbhar, my jaundiced eye! /END
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