New Delhi: The Modi government at the center is on the target of opposition about the poor economy of the country. Due to the recession, many companies in the country have suspended production. Which has led to massive layoffs. However, the ruling party is denying any slowdown in the country. NITI Aayog's Chief Executive Officer (CEO) Amitabh Kant also defended the government on the issue, saying that the government was doing everything possible to deal with it. He was speaking at an event of the All India Management Association.
Kant said that, if you look at the last five years, India's economic growth rate was around 7.5 percent on average, it has come down to 5 percent in the first quarter of the current financial year. Both the government and the Reserve Bank of India are working in this direction. He said, 'We have to think what kind of innovation we need to achieve high economic growth rate.
In fact, to bring the economic growth rate back on track, the Reserve Bank has cut the repo rate by 1.10 percent, while the government has announced its measures by holding three separate press conferences. He said that this work will continue. The CEO of NITI Aayog said that the government is active, fundamental factors of Indian economy are strong and we will continue to take necessary steps to take India on the path of high economic growth. The government has opened many sectors to foreign investment.
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