Country's economy facing difficult situation, not in crisis:

The country's economy is going through a difficult situation but not in a crisis, Niti Aayog distinguished fellow Ramgopal Agarwala said here on Saturday.

The reforms like demonetisation, Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC) were required but hastily implemented, Agarwala said in his personal view.

Speaking at the Bharat Chamber of Commerce here, Agarwala said, "In my personal opinion, the country is in a difficult situation but not in a crisis. The reforms implemented were necessary but hastily implemented."
Talking about GST, he said, "In my personal view, it was a good step but not enough preparation was done while implementing it. The same is true for IBC."
Speaking on the economic growth, he said, "Personally I feel, inclusiveness is the most important factor for achieving good growth. All castes and communities have to be included while ensuring gender equality."
Regarding the Centre's target of achieving USD five trillion economy by 2024-25, he said, "It is desirable. But income opportunities have to be created for the aspirational middle class."