Expressing optimism over India’s economic growth, Niti Aayog Vice-chairman Rajiv Kumar has said with several steps taken by the government in the past couple of months to boost the economy, the country’s growth is expected to be around 6.5% this year (FY20), although it is lower than expected. He added that the Reserve Bank of India’s (RBI’s) fifth consecutive rate cut reflects the country’s overall ambition to accelerate economic growth to touch 8% sooner rather than later.
He said ‘Given all the work done in the last couple of months and today’s RBI’s fifth consecutive rate cut you can see that everything is focused now in accelerating growth further. “And we do want to have this growth probably at 6.5 per cent this year, which is lower than what we expect. We want it to go up to 8 per cent sooner rather than later.’
Highlighting that India is achieving progress on raising the growth rate to higher trajectory and sustaining it there, Kumar said ‘We have a very ambitious growth target’. He also said the bottom line is, there is going to be a continued focus on improving investment and business climate in India across states. On building up India’s infrastructure, he said ‘The only thing we want to do now is to attract more long-term funding’.
