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100-day plan is about pushing big ticket reforms: Amitabh Kant


Amitabh Kant, the chief executive officer of government think tank NITI Aayog, says the biggest task for the new government is to speed up private investments and ensure better credit flow. In an interview to Shantanu Nandan Sharma on Thursday, Kant spells out what all could be rolled out in the days to come. Edited excerpts:


How will Modi 2.0 be?

My view is that Prime Minister Narendra Modi will take India to a high trajectory growth rate by undertaking a series of structural reforms across sectors, which will catalyse private sector investments and job creation. This would necessitate enhanced credit flow. He will strongly focus on ease of living — thereby improving the lives of people — and on nutrition, health and learning outcomes, with special emphasis on aspirational districts.

Will there be any radical reforms?
In the last five years, the PM has been a bold, gusty and courageous reformer. He initiated a series of structural reforms, including the Goods and Services Tax, insolvency and bankruptcy code, direct benefits transfer and the Real Estate (Regulation and Development) Act. When you undertake structural reforms of such a large magnitude, it usually takes two to three years to get the results. The challenge now is to ensure that the momentum continues. The focus needs to be on industry — exports, which in the long run will lead to creation of largescale jobs. I feel the PM may lay emphasis on tourism, construction and textiles — all of which create jobs in a big way.

What about agriculture?
Major reforms in agriculture will be the key to doubling farmers’ incomes. Markets are non-functional in agriculture. This requires contract farming, restructuring essential commodities and APMC Acts, inflow of technology, better functioning eNAMs, flow of technology, access to markets and cold storages and warehousing. The PM is also likely to focus a lot on agri-business. The government will also push for reforms in mining, the railways, Bharatnet and the oil and gas sector. All these will boost economic growth in the days to come.

How much of those will come during the 100 day programme of the new government?
That’s for the prime minister to decide. The ministries have already worked on an action plan for 100 days. The NITI Aayog has worked on it. But it is for the PM to take the final call. The 100-day plan is about pushing difficult and big-ticket reforms.

Will privatisation of public sector undertakings (PSUs) materialise in a big way now?
The PM has been very clear that the government should not be in the business of doing business. It should be the private sector that needs to run business. This alone can enhance productive efficiency of the economy. Loss-making and non-strategic PSUs need to be privatised. The NITI Aayog has given a long list of recommendations in this regard.

Do you see major labour reforms taking place during PM Modi’s second innings?
There will an attempt to make labour laws easier and simpler. Work has already been done to bring the vast number of labour laws under four codes.





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