We need to think what kind of innovation we need to undertake to attain a high growth, said Niti Aayog CEO Amitabh Kant.
New Delhi: The government is doing everything possible to turn around the Indian economy and bring it back to a high trajectory growth path, Niti Aayog CEO Amitabh Kant said on Wednesday.
"If you look at the last five years, India's growth on an average was of about 7.5 per cent....the growth story has dipped to 5 per cent in the first quarter of the fiscal year 2019-20. Both the RBI and the government of India are active on this.
"We need to think what kind of innovation we need to undertake to attain a high trajectory growth," Kant said while delivering keynote address on 'Fostering a Culture of Innovation' at an All India Management Association event here.
Whereas the Reserve Bank of India (RBI) has brought down the repo rate by 110 basis points, the government took a series of measures and gave three economic boosters, he said, adding it will continue to do so.
"The government is active, the fundamentals of Indian economy is intact and we will continue to do whatever it required to take india back to high trajectory growth rate," Kant said.
The CEO also said that there are several measures in the offing to boost the Indian economy and there will be more public sector asset monetisation as well as disinvestment.
Kant also said that there will be more reforms in the mining and coal sector.
"The government is active, the fundamentals of Indian economy is intact and we will continue to do whatever it requires to take India back to high trajectory growth rate. To my mind we will do everything possible," he said.