Too many reforms have caused the slowdown: NITI Ayog CEO
At a time when the economy is witnessing an all-round slowdown, Amitabh Kant, the CEO of NITI Ayog, has said that too many reforms have caused the state.
He said that GST, Insolvency & Bankruptcy Code and Real Estate Regulatory Act are a "huge set of reforms" that the government has undertaken. Because of this, there has been a slowdown. Both GST and IBC have vividly affected GDP growth rate. They both are pills that were needed to set the economy right.
Kant added that the next set of reforms have to happen in oil & gas sectors, mining and coal. He said that privatization should take place rapidly. Commercialization of railways is also his suggestion.