Too much of reforms has led to slowdown: NITI Aayog CEO

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  1. NITI Aayog CEO has said that a huge set of reforms undertaken by the government has led to the current slowdown in the economy.
  2. He said that the reforms undertaken by government includes (a)GST (Goods and Services Tax) (b)IBC (Insolvency and Bankruptcy Code) and (c)RERA(Real Estate Regulatory Authority).
  3. He has also advocated a series of policy decisions to revive the economy such as Firstly,the government needs to bring in greater levels of liquidity.Secondly,it needs to revive the private sector investment as we can never create wealth without the private sector. 
  4. Thirdly,the government needs to get out of business in a range of areas and it needs to recycle a lot of government assets such as roads. Fourthly,the government must push for major structural reforms.
  5. He has also suggested that gas grids, pipelines, transmission lines should be privately owned.He said that Niti Aayog had recommended a vast range of public sector units to be privatised.
  6. He also talked about the government’s push for electric vehicles(EV) in the country.He said that the government would work to develop India as a hub for manufacture and export of EVs.
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