Exclusive: Digitalisation is need of the hour, says NITI Aayog`s CEO Amitabh Kant

Amitabh Kant also commented on the Union Budget 2021 and said that India is on the path of a $5 trillion economy. `COVID-19 had an impact on the economy. The budget will help create a $ 5 trillion economy,` Kant said. He said that in the Budget, the emphasis is on the asset monetization and disinvestment.

New Delhi: The NITI Aayog CEO Amitabh Kant has said that the digitalisation is need of the hour and this way India will recover economic loss during the nationwide COVID-19 lockdown. 

In an exclusive interview with Zee Business' executive Editor Swati Khandelwal, Amitabh Kant said, "Government's focus is on digitization," and added that the Production Linked Incentive Scheme (PLI) has been announced in 13 sectors.

He also said that the Government is working to privatise the non-strategic sector which will infuse productivity and better asset utilisation. 

Notably, according to NITI Aayog, over 2.3 billion transactions worth Rs 4.2 trillion were recorded through Unified Payment Interface (UPI) in January 2021. 

The Chief of the policy think tank of the Government of India also commented on the Union Budget 2021 and said that India is on the path of a $ 5 trillion economy. 

"COVID-19 had an impact on the economy. The budget will help create a $ 5 trillion economy," Kant said.

He said that in the Budget, the emphasis is on the asset monetization and disinvestment. 

"Privatization will make better use of resources. The Government is working on rapid disinvestment and wants to come out of non-strategic sectors," Kant told Zee News.

The NITI Aayog's CEO said that the Centre has identified four strategic sectors and that the investment in the infrastructure will benefit the country.

He said that the Centre has taken big steps on the policy reform and that if quick disinvestment happens, then good results can be achieved.

Amitabh Kant said that it is good opportunity for the world to invest in India and that the Indian companies can invest as well.

He also commented on the valuation of AIR India, LIC, BPCL and said that the disinvestment process should be transparent and that a lot of work has been done on disinvestment of big companies.

Kant informed that the disinvestment process slowed down due to COVID-19 outbreak. 

The NITI Aayog Chief further said that the privatization will be done of two PSU banks and one insurance company. 

He also commented on the electric vehicles and said that the work is going on manufacturing EV's batteries. He said that all the 3-wheelers will be EVs in the next three years.

On the rising crude oil prices, Kant said that Prime Minister Narendra Modi's focus is on increasing natural energy production. He said that there is a need to move towards clean energy.

Amitabh Kant told Zee News that the Government is working on health, education and nutrition sectors and also has its emphasis on affordable housing. He said that the Centre aims to maintain the 8-9% growth rate for the next 30 years.