Former SBI chairman said on the economic growth of the country, this will have to be done for the economy of $ 5000

Indian Economic Growth: The country needs to increase the economic growth rate to more than eight percent to become a $ 5 trillion economy by 2025. Rajnish Kumar, former chairman of State Bank of India has said this. The effect of the epidemic spread across the country is also being seen on the economic growth.

8% growth needed
“If India is to become a $5,000 billion economy, of course we cannot be happy with 5-6 per cent growth. needed.”

Economy needs investment
Kumar said that for growth of eight per cent and above, there is a need for large scale investment in the economy. Along with this, there is a need for a low tax rate so that money is left in the hands of the companies along with the people. Apart from this, there is a need to increase the ease of doing business at the lower level and ease the land availability.

Can’t depend on government for capital
“We need massive investment in manufacturing, agriculture and infrastructure sectors. We all cannot completely depend on the government for capital.

GDP investment not improving
He also said that despite reforms in various sectors, the GDP (Gross Domestic Product)-Investment ratio has not improved. Kumar said that there is a desire to pursue tough decisions and concrete reforms at the central government level, but when it comes to its implementation, issues arise because of bureaucracy.

The country’s ranking has improved
He also said that though the country’s ranking has improved in terms of ease of doing business, there is still a problem in getting approval to set up new units at the district level.

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