Chief Economic Advisor Arvind Subramaniam says, Legacy issues that have held back private investments need to be worked out. He says that reforms in taxation, improving ease of doing business and stepping up of public investments should be the focus to perk up the economy. However, he ruled out any fiscal stimulus for boostinggrowth. In an interview to PTI, Subramaniam said two sectors holding back the economy are private investments and exports. He said getting back the economy to 8-10 per cent growthtrajectory was possible within the present government's tenure. Rejecting possibility of a fiscal stimulus to prop up the economy, Subramanian said such a move is not required for structural reforms. Asked about the impact of deficient monsoon on agriculture production, he said it was difficult to assess the situation now but "it would not be like 4 per cent growth of previous year. He said except fruits and vegetable, agriculture commodity prices would not be a source of major concern this year. On the sectors facing problems, he said power distribution companies and steel sector are stressed and are getting focused government attention.
News On AIR | October 1, 2015 1:23 PM
Legacy issues need to be worked out: CEA