Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.
Stock Analysis, IPO, Mutual Funds, Bonds & More

Growth rate will be 7% in H2 and 6.5% for full year: Rajiv Kumar, NITI Aayog

You cannot continue to keep the family silver until it tarnishes completely and turns to rust.

, ET Now|
Oct 17, 2019, 03.55 PM IST
Rajiv Kumar-1200
We are committed to ramping up non-tax revenue through both disinvestment and asset monetisation. We will see that happening over the next five or six months, says Rajiv Kumar, vice chairman, NITI Aayog. Excerpts from an interview with ETNOW.

Indian economic growth rate fell to a six-year low of 5% in the June quarter. IMF has slashed India's GDP growth projection for the year 2019 to 6.1% while the World Bank said India's growth rate is projected to fall to 6% in 2019 . What do you have to say about the state of the economy?
In my own estimate in the second half we will produce higher than 7% rate of growth. So, that will be 6% rate of growth for the whole year and higher actually, maybe more like 6.5% could be achieved this year.

NITI Aayog has been given the responsibility of ramping up disinvestment. Can you share with us if Rs 1 lakh crore divestment is suddenly looking not just doable but beatable?
It is eminently beatable because we have to mobilise more non-tax revenues to meet the challenges of the current year and because of slower growth in the first half, it has brought down the GST collection and so on. We are committed to ramping up non-tax revenue through both disinvestment and asset monetisation that is now in the works. We will see that happening over the next five or six months.

Will we have to expedite the entire process which could also mean that we would be selling the family silver at a price for which we could have got a higher value with patience?
This a very old story about family silver etc, etc. I do not think you should repeat it because nobody wants to sell family silver at cheap prices ever, but you cannot just continue to keep the family silver until the time it tarnishes completely and turns to rust. There is a balance here that you need to keep.

But is the list ready for asset monetisation?
It is now and the details of that is part of disinvestment.

Are you moving the cabinet for this because DIPAM says NITI Aayog is responsible for the rest?
I cannot comment anymore on that.

We at ET Now are running a new initiative in the Diwali season Naya Saal Naya Shuruwat (new year, new beginning). What is Rajiv Kumar’s new beginning in the new year?
We have to make even more efforts at facilitating and promoting private investment in the country. That is the key to achieving faster growth and therefore we should all buckle down to making sure that investment sentiment becomes strong and positive and we do whatever is required to facilitate the growth of private investment in our country.

Also Read

Niti Aayog's report to reveal India's health system

Niti Aayog proposes separate regulator for medical devices

NITI Aayog preparing draft model Land Title Act, 2019

Alcohol manufacturers plead NITI Aayog for import duty exemption on ENA

Niti Aayog asks India Inc to assess CSR impact

Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links

Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service