Pointing out to India’s averaged economic growth rate of 8.3% during period of 2003-11, NITI Aayog vice-chairman Rajiv Kumar has expressed confidence that Indian economy will grow at the rate of 9% on sustained basis by 2022, on account of the government’s various reform measures like Goods and Service Tax (GST), demonetization, recapitalisation of bank and the Insolvency and Bankruptcy Code (IBC).
NITI Aayog vice-chairman also hoped that farmer’s income can be doubled with the government’s ongoing pilot projects. He further expressed need to promote electric vehicles in the country, noting that this is best time as petrol prices are rising.
Earlier, highlighting India’s diverse nature with ability to offer many types of investment opportunities, Rajiv Kumar had said that foreign investors should develop state specific strategy for investments in India. Besides, he said that a whole startup ecosystem has come up in India, so UK should set up technological hub in India.