Amitabh Kant: 'Government Has Introduced A Number Of Structural Reforms'

Republic Summit 2019

During a panel discussion at the Republic Summit, CEO of NITI Ayog, Amitabh Kant said that he is positive that India will become a $5 trillion economy

Written By Ria Kapoor | Mumbai | Updated On:

During a panel discussion on India's growing economy at the Republic Summit, CEO of NITI Ayog, Amitabh Kant said that he is positive about the country's growth because "the country has lifted around 300 million people over the poverty line. The country has also grown at an average of 7.5% in the recent years." He also talked about statistics that are needed for India to become a $5 Trillion economy in the next few years. He said that he is confident about the progress because of the structural reforms that have been introduced by the government.

'PM Modi has invested his personal capital'

Kant suggested keys that can be done to speed up the process that will ultimately lead to the economy to flourish, like accelerating the credit flow and public sector disinvestment, structural reforms in various sectors, and push for asset monetization. He further mentioned that PM Modi has put in a lot of effort behind the initiatives and has also invested his personal capital for the cause. Kant also talked about the programmes that have been set up to monitor growth and how economically backward districts are no more called backward - which are now termed aspirational.

READ | Here's why Amitabh Kant is optimistic that India will reach its $5 trillion goal

While speaking about the key ways to attract investments for the development of the country, Kant said that "India will never be able to grow at a high rate without a dynamic role of the private sector". He said that digging the past on what the economy was all through the years will do no good to anyone. "The government has now set the new rules right that will help the nation in achieving the ultimate goal," he added.

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Responding to a question about the low market moods in the current scenario, Kant said, "the mood is created by common people like you and me, so therefore to create such a low morale, it does no good to the country and its situation." He further said that we should always talk positive. He also said that the Prime Minister always interacts with and is open to meeting anyone.

READ | No recession in Indian economy: Finance Minister Nirmala Sitharaman

Another panellist also talked about how he agreed with Kant and feels confident about exceeding the goal. He further said that even though that is a good sign, it is also important that we see how the gap between the rich and the poor is increasing and the real success will only come once the gap is filled. 

READ | WATCH: Will corruption crackdown boost the economy? Finance Minister Sitharaman answers

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