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Niti Aayog Vice Chairman Rajiv Kumar has exuded confidence that with India's story remaining ‘very strong’, the economy will register double-digit growth in the current fiscal (FY22) and the disinvestment climate also looks better. He also asserted that the country is prepared in a far better manner in case there is a COVID wave as states have also their own lessons from the previous two waves.

Asked when private investments will pick up, Kumar said in some sectors like steel, cement, and real estate, significant investment in capacity expansion is happening already. In the consumer durable sector, it might take longer because consumers might feel a little hesitant due to uncertainty on account of the pandemic. On concerns over a possible third COVID wave, he said the government is much better prepared in case such a situation comes up.

On whether the government will be able to achieve its ambitious disinvestment target this fiscal, Kumar said that despite the second COVID wave and its significant impact on the health side, markets have remained buoyant and they touched new heights. Pointing out that a good number of IPOs of startups are lined up, he said ‘the climate for disinvestment is looking better and I am very hopeful that the disinvestment target would be fully realized.’ He also said the government has budgeted Rs 1.75 lakh crore from stake sales in public sector companies and financial institutions. He added that achieving the target will be crucial for the government's finances which have been stressed due to the pandemic and resultant increase in spending activities.