INSUBCONTINENT EXCLUSIVE:
Niti Aayog vice chairman Rajiv Kumar has said that India will touch double-digit growth in 2021-22The economy will register a double-digit
growth in the current fiscal and the disinvestment climate also looks better, Niti Aayog Vice Chairman Rajiv Kumar has said, even as the
strengthened as we get into the second half of this (financial) year given what I have seen for example various indicators, including the
mobility indicators," Mr Kumar told PTI in an interview.The Indian economy has been adversely impacted by the Coronavirus pandemic and the
recovery has been relatively sluggish in the wake of the second wave.Against this backdrop, the Niti Aayog Vice Chairman exuded confidence
that the economic recovery will be "very strong" and those agencies or organisations which have revised their GDP estimates downwards for
said.The economy contracted by 7.3 per cent in the financial year ended March 31, 2021.S-P Global Ratings has cut India's growth forecast
for the current fiscal to 9.5 per cent from 11 per cent earlier, while Fitch Ratings has slashed the projection to 10 per cent from 12.8 per
a strong rebound, the Reserve Bank of India (RBI) has pegged economic growth at 9.5 per cent in the current fiscal.Asked when private
investments will pick up, Mr Kumar said in some sectors like steel, cement and real estate, significant investment in capacity expansion is
happening already.In the consumer durable sector, it might take longer because consumers might feel a little hesitant due to uncertainty on
account of the pandemic, he said
"Full-fledged private investment recovery, we should expect by the third quarter of this(fiscal," he added.Responding to a query on concerns
impact of the third wave on the economy will be much weaker than it was during the second wave and the beginning of the first wave," he
said.According to Mr Kumar, the Government's preparation is very significant and also the states have learned their own lessons.Recently,
the government announced an additional Rs 23,123 crore funding, mainly aimed at ramping up health infrastructure.On whether the Government
both for 2020-21 and between April to June in 2021-22," he said.Pointing out that a good number of IPOs of startups are lined up, he said,
"the climate for disinvestment is looking better and I am very hopeful that the disinvestment target would be fully realised."The Government
has budgeted Rs 1.75 lakh crore from stake sales in public sector companies and financial institutions
Achieving the target will be crucial for the Government's finances which have been stressed due to the pandemic and resultant increase in
names you like, the point is that if the Government needs to borrow more money for expanding capital expenditure, it could go ahead because
state governments."This means that there is an appetite for government borrowings and the deficit would be financed without much
