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    Government is gearing up for more structural reforms: Niti CEO Amitabh Kant

    Synopsis

    Government is gearing up for more structural reforms that will help the economy to rebound, NITI Aayog CEO said.

    Kant said that the reduction in corporate tax was a mega booster from the government and now private players will now have to do their bit.
    Government is gearing up for more structural reforms that will help the economy to rebound after a series of measures that have been announced over the last one month, NITI Aayog CEO Amitabh Kant said.

    "Government is now aggressively pushing for disinvestment of its PSUs and asset monetisation. The idea is to bring investors into brownfield projects as government is very poor in operations and management in certain areas," Kant said while speaking at a session in the India Economic Summit on Thursday.

    Outlining the multiple announcements in the past to help economy to recover after GDP fell to a low of 5% in the first quarter of 2091-20, Kant said that the reduction in corporate tax was a mega booster from the government and now private players will now have to do their bit.

    "Government has done its bit by one stroke of pen. This will result in tremendous improvement in the balance sheet of corporates. The onus now lies with private players to cut prices, reduce inventory and create new capacities," Kant said.

    Admitting that productivity rates are poor in India, Kant said government is working on structural reforms across sectors including mining, coal and oil and gas.

    "Through structural reforms we aim to create a base that will help economy grow at 9-10% over three decades and not just achieve $10 trillion mark by 2030 so that we can pull millions out of poverty," he added.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

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    48 Comments on this Story

    Kalyan Ghosh284 days ago
    Structural reforms with week regulation is how possible? No accountability, no transparency, no responsibility and responsiveness badly affect structural reforms policy. India Post can hold up due maturity payment of 1 year TD for over eleven and half years. Concerned officials can ignore interventions of top executives, registered complaints, registered public grievances. Outcome of such setback ends with widespread scam and fraud. Recent news of siphoning of public money from post offices in Varanasi bear the testimony of chaotic administrative support. I most humbly beg to request you to please look into these setbacks and make the concerned officials accountable.A poor helpless man cannot fight for justice with the entire corrupt system of governance. Thanks.
    Shrinivasa Kamath307 days ago
    Government should go ahead with reforms now since there is hardly any opposition party to stall. Though the reforms may not give immediate dividends, the ruling party can easily sail through various state elections unchallenged.
    Raj Tillan309 days ago
    when i read reform i feel there is spelling error if it is DEFORM
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