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Indian economy likely to hit 7.5% growth in 2018-19, says Niti Aayog Vice Chairman Rajiv Kumar

According to Rajiv Kumar, the growth will be driven by improvement in investment cycle and capacity.

Edited by: India TV Business Desk, New Delhi [ Published on: April 28, 2018 16:26 IST ]

Rajiv Kumar

Niti Aayog Vice Chairman Rajiv Kumar today said that India’s economy is likely to grow by at least 7.5 % in 2018-19.

According to Kumar, the growth will be driven by improvement in investment cycle and capacity.

“The economic environment is extremely positive and optimistic. The investment cycle has certainly turned upwards. The capacity utilisation has risen to 74 %. The inflation is still well under the target. The government should now concentrate on consolidating the reform initiatives undertaken in the last 47 months," he added.

“Foreign Direct Investment (FDI) is increasing and I expect rate of growth to be at least 7.5 % in 2018-19,” Kumar said.

The economy is expected to grow at 6.6 % in 2017-18.

Responding to a question on what reforms the government should take in the next one year, the Niti Aayog Vice Chairman said ”The government has taken so many reforms and so many initiatives that I think it is now time to consolidate rather than plan for new initiatives.”

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