(Video) Rajya Sabha TV (RSTV) The Big Picture: India's Path to Economic Recovery

Topic: India's Path to Economic Recovery

Guest:

Dr. Arvind Virmani, (Former Chief Economic Advisor, GoI and Chairman, EGROW Foundation)
Urmi Goswami, (Assistant Editor, Economic Times)
Abhinav Prakash, (Assistant Professor, University of Delhi)

Topic Description:

Despite the setback on account of the Covid-19 pandemic, Prime Minister Narendra Modi is hopeful that India can still achieve the $5 trillion economy target by 2024. In an interview to the Economic Times, PM Modi said India is on its way towards an economic recovery as shown by 5 indicators — record production and procurement in agriculture, record FDI inflows, demand resurgence as shown by growth in auto and tractor sales, improvement in manufacturing and addition to the Employees’ Provident Fund Organisation (EPFO) subscriber base, showing an improvement in the job market. On being questioned about the Goods and Services Tax (GST) coming under considerable stress due to the COVID-19 pandemic, PM Narendra Modi said the fight against COVID-19 also got strengthened because of this approach. The PM went on to add the prime minister said this is by all accounts an extraordinary year. Most assumptions and calculations did not take into account a once-in-a-century pandemic.