NITI Aayog Vice Chairman Arvind Panagariya lauding the works done by the present government has said that the government has put the economy on the path of reform to achieve a high growth trajectory though there are significant lags between policy decisions and outcomes which need to be addressed.
Comparing current government with United Progressive Alliance (UPA) II, Panagariya said that at present the Indian economy is far healthier as compared to the last year of UPA II in all macroeconomic parameters and added that the current government has ended the paralysis by clearing numerous projects. Panagariya however said that the UPA I government worked well but policy paralysis during UPA II rule had hurt the economy badly and as a result the economy plunged into what appeared to be a crisis during its last two years and people were of the opinion that the economy has reached to level of 1991 crisis. He further said that the though the UPA government had expanded social schemes but didn’t took necessary measures to sustain the high growth over a longer period of time.
Commenting on current government, he said the Modi government in the last two years did not face any corruption charges, the economy’s growth rate had improved along with the current account deficit. The government had put the economy to the path of reforms to achieve high growth trajectory.