NITI Aayog Vice-Chairman Rajiv Kumar has said that India will achieve economic growth of 8 per cent plus from the fiscal year 2020-21 onwards as structural reforms are set to produce the benefits.
Talking to a news agency in New York, Mr Kumar said, the foundation has been laid and the transformation has begun with the passing of structural reforms like the Goods and Services Tax, Insolvency and Bankruptcy Code. He said, these have taken their time to settle down and now they’ll produce the benefits.
Mr Kumar stressed that in the next five years, the Modi government is focused on accelerating growth from the current about seven per cent to more than eight per cent and it will propel the country to easily achieving the target of becoming a five trillion dollar economy.
The NITI Aayog Vice Chairman was in New York for the High-Level Political Forum Ministerial Meeting on Sustainable Development Goals at the United Nations Headquarters. During his visit, he delivered the keynote address at the ‘India Investment Seminar’ held at the Consulate General of India, New York.
He highlighted that the Union Budget, presented earlier this month, has taken big steps forward for facilitating and further improving ease of doing business by liberalising the inflows of FDI.