New Delhi: India needs to grow at 10.5-11 per cent in real terms in the next fiscal and sustain that to overcome massive ill-effects of the COVID-19 pandemic, Niti Aayog Vice Chairman Rajiv Kumar said on Friday.
“We need to grow at 10.5 to 11 per cent in real terms 2021-22 and then sustain that to overcome massive ill-effects of the COVID-19 pandemic,” he said at an event held by National CSR Network.
India’s economy is estimated to contract 8 per cent in fiscal 2020-21. The Niti Aayog VC also noted that the Indian economy is now surging towards a recovery. “We have to make sure that we take everybody along,” he said. The last time India suffered due to a pandemic was during the Spanish Flu in 1918 and the country lost 5-7 pc population, he added.
“We better prepare for the next pandemic. We were caught unprepared (during the COVID-19 crisis). “…We did not know the extent to which our people will be affected. Migrants took us by surprise,” he said. Corporations and the government are fighting the pandemic together, Kumar said, adding “Development agenda cannot be entirely advanced by the government alone. Political leaders and corporate leaders need to work together.”
India’s political leaders, including Mahatma Gandhi, had no qualms in working with corporate leaders. “It is time again to rekindle that.” “Time therefore to get over this nonsense of calling names of corporate leaders or mistrusting them.” Corporate social responsibility is the bridge between corporate and society, he said.