Private sector has to be key driver of growth

Bad habit director of Niti Aayog Rajiv Kumar on Thursday said that the private sector of the nation should drive development and not the public enterprises as they used to be.

Speaking at a webinar coordinated by Merchants’ Chamber of Commerce and Industry, Kumar said that the private area additionally needs to create trust with the public authority, which is the need of great importance.

“The private area of the nation must be the critical driver of growth. Prior, the public area used to drive the development motor, yet not currently,” Kumar said.

The Niti Aayog official said that India needs to accelerate growth rates to at any rate eight percent to address the issues of decrease of destitution, improving the medical services framework and increasing the reach of education.

According to him, the development cycle must be equitable and sustainable.

Kumar said that in 1990, the per capita pay of China was equivalent to that of India. “Presently, China’s per capita pay is multiple times more than that of India,” he said.