Economic growth to increase as govt launches new reform initiatives in 100 days

The government is committed to taking new reform initiatives to accelerate economic growth, increase private investment and modernise agriculture sector, Niti Aayog Vice-Chairman Rajiv Kumar said Saturday. The government will launch new reform initiatives in the next 100 days, which will spur India's economic growth, Kumar said while speaking on the sidelines of an event organised by the Ayush Ministry.

His statement assumes significance as it comes a day after the CSO data, which showed the economic growth slowed to a 5-year low of 5.8 per cent in the fourth quarter of 2018-19. "The government is committed to taking new reform initiatives to accelerate economic growth.

"We will launch new initiatives in the next 100 days to accelerate growth, increase private investment and modernise agriculture sector," he said. Kumar also welcomed the new government's decision to extend PM-KISAN scheme to all 14.5 crore farmers in the country, saying it will provide stimulus to the rural economy.

The vice-chairman stressed on the need to provide more resources for research in Ayurveda medicine. "We want to set up a National Council of Integrated Medicine which will prepare new curriculum for traditional medicine system," he said.

He also pointed out that there is a need for quality control of exports of Indian Ayurvedic products.

(With inputs from agencies.)