India will achieve 8% plus growth from FY 2020-2021 onwards: NITI Aayog Vice-Chairman

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  1. NITI Aayog Vice Chairman has said that India will achieve economic growth of 8% plus from fiscal year 2020-2021.
  2. This growth will be achieved as foundation has been laid and the transformation has begun with the passing of structural reforms like the Goods and Services Tax and Insolvency and Bankruptcy Code.
  3. He also emphasised that a very large number of jobs have been generated in the country in the last five years.
  4. 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.
  5. He also stressed on the potential in the agriculture sector which has 43% of the workforce.He said that investment in the agro-processing sectors and improvement in agricultural yields will help exponentially in job creation.
  6. He said that the NITI Aayog focus is on improving private investment by improving the investment climate, accelerating growth, generating jobs, and creating policies.At the same time,ensuring social programmes benefits reach the bottom of the pyramid and to the last person standing in the queue is also part of focus.
  7. He acknowledged that a lot has been achieved through programmes such as Swachh Bharat Mission and Ayushman Bharat.But challenges remain such as water crisis, shortage of energy in parts of the country, pollution and need to increase female participation rates.
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