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Recent reforms will form the basis of higher growth: Subramaniam

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Recent reforms will form the basis of higher growth: Subramaniam

New Delhi, Nov 18 (PTI) Chief Economic Adviser (CEA) Krishnamurthy Subramaniam on Thursday said the recent reforms of the government will help in achieving higher growth rate.

Addressing the Confederation of Indian Industry’s (CII) Global Economic Policy Summit-2021, Subramaniam said the government’s Production Based Incentive (PLI) scheme is focused on growth.

He said that there is a need to improve the competitiveness of the manufacturing sector. This will encourage employment generation and inclusive growth.

Subramaniam also emphasized that it is most important to increase production to bring down the average cost. “This enables us to be competitive not only in the domestic market, but also in the international markets.”

Rakesh Mohan, member (temporary) of the Prime Minister’s Economic Advisory Council, said that now there is a need for third generation reforms, so that we can take the growth rate to the next level of about 8-9 percent.

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