‘India looks at a strong revival of the economy’

PUNE: India will have a strong economic revival thanks to its well-planned easing of lockdown, Union minister of state for finance and corporate affairs Anurag Thakur said on Wednesday.

He also defended the contentious farm sector reforms, saying the Narendra Modi government had the courage to do what others could not. Thakur was speaking on `Achieving $5 Trillion Economy of India: Opportunities and Challenges’ in a lecture series organised by Symbiosis International University.

Year 2020 is a pandemic year, but India will look back on it as a year of “historic reforms, a year of tectonic transformation and year of opportunities in the wake of adversities,” said Thakur. Prime Minister Narendra Modi rightly asked the countrymen to find opportunity in the adversity and India has seen an opportunity in the wake of adversity, he said.

Like every other country, India too saw its economic growth and activities fall during the coronavirus pandemic, Thakur said. “However, due to gradual and well-thought unlocking and the resumption of business activities, we are now looking at a strong economic revival and it is possible because of strong fundamentals and a slew of structural reforms,” he said.

The ‘atmanirbhar package” of ₹21 lakh crore announced by the Modi government was roughly 19% of the GDP, he said.

Talking about the new farm laws, which is being opposed by some sections of farmers, Thakur said people had been talking about bringing changes in the sector but could not do it.