Kumar said, “Hopefully we are now leaving the pandemic behind. With the entry into the second half of the current financial year, economic activities will improve. Various examples such as speed in traffic etc. are indicating this.
Economy recovery very strong
The Vice Chairman of NITI Aayog expressed confidence that the recovery of the economy is very strong and agencies or organizations which had reduced their GDP estimates for the current financial year, may have to revise it and increase it now. He said, “I expect that in 2021-22, the economy will register double digit (of 10 percent or more) growth.” In the last financial year 2020-21, India’s economy has declined by 7.3 percent.
Significant investments in sectors such as steel, cement and real estate
Asked whether private investment would pick up pace, Kumar said capacity expansion in certain sectors like steel, cement and real estate is already witnessing significant investment. He said that the durable consumer goods sector will probably take longer, as customers are still confused due to the uncertainty about the epidemic.
Government is in a better position to deal with the third wave of Corona
When asked about a possible third wave, the NITI Aayog vice chairman said, “The government is in a much better position to deal with any possible third wave. I believe that the impact of the third wave on the economy will be limited compared to the beginning of the second wave or the first wave.
Recently announced additional funding of Rs 23,123 crore
The government has recently announced additional funding of Rs 23,123 crore. Through this, the government will mainly strengthen the health sector infrastructure. Asked whether the government would be able to meet its disinvestment target for the current fiscal, Kumar said the markets were strong despite the second wave. At this time he is at new heights.
About the issuance of Kovid bonds by the government to raise funds, Kumar said, “You can give it any name. If the government needs to raise more money for capital expenditure, it can do so. This will help in attracting more private investment.