Economy starts improving, organized sector will reach pre-covid level by the end of the year: Montek
Renowned economist and erstwhile Deputy Chairman of Planning Commission Montek Singh Ahluwalia (Montek Singh Ahluwalia) said on Thursday that the Indian economy (Indian Economy) Now slowly coming up from the lower level and the organized sector may be in a pre-pandemic state by the end of this year. Ahluwalia while addressing the ‘online’ program said that he is in favor of the plan to put old properties on the market (National Monetization Pipeline). This will lead to better utilization of infrastructure assets in various sectors including power, roads and railways and will bring out true value.
He said, “The good thing is that the economy is now recovering from the level it was supposed to go down and is slowly progressing. The organized sector will be in a pre-pandemic state by the end of this year. It may be different for different sectors, service sectors etc.” Ahluwalia said that if the organized sector returns to speed, then the unorganized sector will also follow its path. When investment in the private sector increases, there is better economic revival.
It is noteworthy that the country’s economic growth rate was a record 20.1 percent in the April-June quarter of the current financial year due to weak comparative base and better performance of manufacturing and services sector. Despite the second wave of the Kovid-pandemic, high growth rates have been achieved. On the government’s recent move on infrastructure, Ahluwalia said, “I am in favor of NMP (National Monetization Pipeline). If it is implemented properly, it is a good thing.
Last month, Finance Minister Nirmala Sitharaman announced a national monetization pipeline of Rs 6 lakh. Its purpose is to raise finance for new projects in the infrastructure sector by putting the old assets of the government on the market. Regarding the reforms in the agriculture sector, he said that modernization of agriculture is desirable. Ahluwalia said, “But the manner in which the three agricultural laws were implemented has created doubts among the farmers.”
It is noteworthy that hundreds of farmers, mainly from Punjab, Haryana and western Uttar Pradesh, have been camping on the Delhi border since November last year. All three of them are demanding the repeal of the Agriculture Act.
(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)