SME Times News Bureau | 22 Oct, 2020
NITI Aayog Vice Chairman Rajiv Kumar on Thursday said that the next
round of stimulus package from the government should be focused on
infrastructure as it has multiplier effect and can sustain growth.
His
statement comes just days after Union Finance Minister Nirmala
Sitharaman said that another round of stimulus is not off the table for
the government.
Calling for special emphasis on short gestation
projects, the NITI Aayog Vice Chairman also said that productivity
enhancing measures are required to boost the economy.
Speaking at
the seventh National Forum of Public Affairs Forum of India (PAFI), he
also observed that the contraction in India's GDP in the current
financial year may not be as bad as projected by many. He attributed his
observation to several signs of recovery in the months of August and
September.
He noted that a broad-based recovery cross sectors has
been observed and the coming quarters are expected to be far better
than forecasted.
About the vaccine delivery mechanism for
Covid-19, he stated that the government is working on creating an
effective system which involves aspects of universal coverage, unique
and portable IDs and the optimum use of biometrics and technology.
Kotak
Mahindra Bank Ltd Managing Director & CEO and CII President Uday
Kotak said that the best time to invest in some key sectors of Indian
economy is when things look challenging.
While global investors
are looking at money and stable, predictable and consistent policies
over a period of time, domestic policy has to encourage unlocking of
domestic risk capital, he said.
