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The government will keep the reform momentum going with more such announcements in the future to bring back the economy on a higher growth track, though issues related with productivity efficiency persist, NITI Aayog CEO Amitabh Kant said on Thursday.
Going back to 2005 and till now, close to about 300 million people have been pulled out of poverty. In the last five years, the economy has grown at about 7.5 per cent.
India’s growth was at about 8.1 per cent in the last quarter of 2017-18 and fell to 5 per cent in the June quarter of 2019-20, Kant said at the World Economic Forum’s India Economic Summit-CII event here.
“Since then both the RBI and the government have taken a series of measures to take India back to a high growth trajectory. The RBI has dropped the repo rate by about 110 basis points to 5.4 per cent. But there is limitation to monetary policy and therefore the government stepped in and took a series of measures,” Kant said.
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