Structural reforms in agri,exports must to revive growth: Amitabh Kant

Structural reforms in agriculture and exports are needed to bring growth rate back to higher levels, Niti Aayog chief executive Amitabh Kant said Tuesday.

 

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.

 

 

Comments come at a time when the economy has slowed to a six-year low of 5 percent in the June quarter and exports began to degrew, amidst the deepening slump even in the low- ticket FMGC sector, leave alone the high-ticket automobiles.

 

If we have to grow at a higher rate of 9-10 percent for a long period, we need to take structural reforms in agriculture and exports," Kant told a function.

 

Admitting that the structural reforms like GST, and IBC etc had some impact in growth, he said in the long-run these reforms will take the country to higher growth path.

 

 

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, he said.