The budget will put India on the right track: Amitabh Kant, CEO NITI Aayog

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“The budget will put India on the right track, and backed by the structural reforms, it will accelerate the pace of growth of India’s economy to higher levels of growth trajectory,” said Amitabh Kant at the ‘FICCI National Executive Committee Meeting’.

The government will continue the structural reforms outside the budget too, he shared.

Kant said that the private sector should join the asset monetisation plan of the government. “We have finalised the RFP for 150 private trains and in the coming 45 days, they will be in the market and will be very attractive bids. We will also have close to 10 railway stations where the private sector will play an important role. Soon the government plans for 6 airports for bids in a month or two,” he further informed.

Kant, while addressing the audience at the session said that the key to the budget is the successful execution of disinvestment. “Through this budget, the government has cleared its intentions both in asset monetization as well as public sector disinvestment. Asset monetization plans of the government are important for the private sector,” he stated.

As India is a difficult place for green field investments but is an attractive destination for brown field investments, Government will put out a huge brown field assets for the private sector to invest across various sectors and on the back of private investments, the credit flow should come into these sectors,” Kant said.

Highlighting the credit flow concern, Kant said that it is very important that lending by public sector banks grow with a series of measures taken. “The ultimate objective is to have lowest corporate tax and personal income tax regimes in India,” Kant said.