Government will continue to push for greater reforms across sectors: NITI Aayog CEO Amitabh Kant

“India is determined to carry out reforms. We need more and more reforms and the government will push for greater levels of reforms across sectors and make things easy and simple,” Kant said while addressing the CII Partnership Summit 2021 on Monday.

“The basic philosophy of this government is that wealth is created by the private sector. We have to make things easy for them and the government must act as a facilitator and as a catalyst and we’ll continue to push all reforms in that direction,” Kant added.

According to Kant, the economic and governance reforms undertaken in India in the last few years have addressed critical bottlenecks in India’s growth story that will usher in a new era of growth and prosperity.

“Reforms cannot be seen in a piecemeal fashion. They must be pieces in the puzzle that forms part of the big picture,” he said. “Economic reforms create the potential for wealth generation while the governance reforms ensure that the opportunities for wealth generation are seized by businesses and individuals”.

“All of these reforms and initiatives will have the effect of boosting India’s investment prospects, raising our productivity and ensuring our growth is sustainable, inclusive, green and resilient,” he added.

Talking about the national monetisation pipeline, Kant further said that in a revenue constrained environment, sustaining public infrastructure development requires unlocking financing through innovative models and the national asset pipeline and national monetisation pipeline are an effort towards this direction.

“Public investment in infrastructure takes a more important role in the time of economic slowdown owing to its multiplier effect,” he said.

According to Kant, the National Monetisation Pipeline serves two critical objectives. Firstly, it unlocks value from public investment in infrastructure and secondly it taps private sector efficienciencies in operation and management of infrastructure. “NMP is targeted at de-risk, brownfield assets with a stable revenue generation profile,” he added.

Elaborating on the government’s focus on green energy, Kant said going digital and green will be the key in the post-Covid era.

“To fulfill our vision of making India’s products globally competitive, this is the time for us to establish a new identity of quality and reliability and therefore we are pushing for greener industries,” he added.