Reforms necessary to enhance productivity, unshackle entrepreneurial spirits: K V Subramanian

Chief Economic Advisor K V Subramanian on Tuesday said reforms are necessary to enhance productivity in the economy and unshackle the entrepreneurial spirits.

Insolvency and Bankruptcy Code, goods and services tax (GST) and programmes such as Pradhan Mantri Jan Dhan Yojana are some of the measures taken by the government towards reforms, Subramanian said at the 'FICCI Arise Conference: Future Ready Learners and Schools' here.

"We do need more reforms to enhance productivity in the economy. We need reforms to unshackle entrepreneurship in the country," he said. Reforms that the country is seeing today are articulation of cogent vision, he added.

He said human capital and education are also key factors for the growth of the economy.

Subramanian also said there has been a change in stance in government policy with regard to the disinvestment and that is why companies such as Bharat Petroleum are being privatised.