Categories: Business

economy to recover following containment of covid 19 says niti aayog

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Niti aayog

new Delhi. NITI Aayog says that the Indian economy will improve after controlling the Kovid-19 epidemic. NITI Aayog Vice-Chairman Rajiv Kumar said on Tuesday on the occasion of presenting a report on 'Towards Clean Energy Economy: Opportunities in India's Energy and Mobility Sector after Kovid-19', which are improving at present in the country Because of them, India's growth rate will be higher than its counterpart countries later. Kumar said that the state of the Indian economy will begin to improve with control over this epidemic.

The International Monetary Fund (IMF) estimated last week that the Indian economy would decline by 4.5 percent in 2020. The IMF has said that economic activity in India has been severely affected due to the corona virus. However, with this the IMF said that in 2021 the Indian economy will register a growth of six percent. Kumar said that India's strong democratic institutions advance policy stability. If they are implemented better then India will be ahead of their counterparts in growth rate.

Addressing the same program, Chief Executive Officer (CEO) of NITI Aayog, Amitabh Kant said that clean energy will play a major role in India's economic revival and international competitiveness. He said that we have to exploit our domestic innovative ecosystem in order to get value for the country and industry in the new normal. The report states that the country's electric vehicle market may change due to the Kovid-19 as people will demand products of fair value and as a result manufacturers will start producing conventional vehicles. The report stated that production of electric vehicles could be delayed, as manufacturers would focus on generating demand and India would produce vehicles with phase-six emission standards. In addition, curbs on the import of components from China may affect manufacturing of electric vehicles.

This post was published on June 30, 2020 11:22 pm

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