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India to achieve 8% plus GDP growth from FY 2020-2021 onwards: Rajiv Kumar
Jul-22-2019

NITI Aayog Vice Chairman Rajiv Kumar has expressed confidence that India will achieve Gross domestic product (GDP) growth of 8 percent plus from fiscal year 2020-2021 onwards as structural reforms such as the Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC) are set to produce the benefits. He stressed that in the next five, the government is focused on accelerating growth from the current about seven percent to more than eight percent that will help to achieve target of making India a $5 trillion economy.

Talking on the issue of job creation, Kumar emphasized that a very large number of jobs have been created in the country in the last five years. He noted that if it was always a jobless growth, then that would have shown up in social strife and social tensions and surely would have meant that this government would not have been re-elected. However, he acknowledged that the nature and quality of jobs is not meeting the aspirations of the country's young people and they want better quality jobs that will engage them fully. He added ‘that has to be ensured by us improving the investment climate for domestic investors as well as foreign direct investors.'

NITI Aayog Vice Chairman further said 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 foreign direct investment (FDI). Highlighting the potential in the agriculture sector, which has 43 percent of the workforce, he said investment in the agro-processing sectors and improvement in agricultural yields will help exponentially in job creation.

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