7.5-8 pct GDP growth expected this year: NITI Aayog VC

NITI Aayog Vice Chairman Rajiv Kumar on Monday opined that the outlook for India's GDP is projected to be around 7.5 to 8 percent this year, with an estimate of 6.2 percent growth for this quarter.

Further, Rajiv claimed that disinvestment of national carrier Air India is slated to take place in the next 12 months.

"It is difficult for the disinvestment procedure to be done by March. However, we are expecting this to be completed in the next 12 months," he told ANI.

With the recent changes in the Goods and Services Tax (GST) rates to be levied on various commodities, Kumar opined that petroleum and electricity should be brought under the ambit of the taxation scheme.

"In my opinion, there should be only three tax slabs under the GST- 0, 15 and 28 percent. Also, electricity and petroleum should be brought under the GST," he said.

Rajiv further said the government needs to focus more on areas such as infrastructure, productivity, affordable housing, irrigation, and social spending. He also said the ratio of capital versus revenue expenditure needs to be maintained at the current level.