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Need to take structural reforms in agriculture, exports to revive growth: Amitabh Kant
Sep-18-2019

Niti Aayog chief executive Amitabh Kant has said that there is need to take structural reforms in agriculture and exports to bring growth rate back to higher levels of 9-10 percent for a long period. He also said the fundamentals of the economy are intact which will help the government take back the economy to the higher growth trajectory soon despite the global slowdown.

Acknowledging that the structural reforms such as Goods and Services Tax (GST), and the Insolvency and Bankruptcy Code (IBC) etc had some impact in growth, Kant said in the long-run these reforms will take the country to higher growth path. He also “the government is alive, receptive and despite the global headwinds, we are very conscious that we have to take the country back to very high trajectory growth rate as our fundamentals are totally intact and we have a very vibrant private sector and have a government which is committed to reforms.”

Talking on divestment, Niti Aayog chief executive said soon the government will do a lot of asset monetization. He also said “we will put on block roads, airports, power transmission lines, and shipping terminals for privatisation and that is when credit flow will start.” He noted that it is not possible to grow for a long time without structural reforms in the agriculture sector where close to 58 percent of the country's lives. He added “you cannot keep growing on subsidies or just by giving assistance to farmers without ensuring better markets, technology or contract farming.”

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