New Delhi, May 21 (PTI) NITI Aayog vice-chairman Rajiv Kumar today exuded confidence that Indian economy will achieve 9 per cent growth rate on sustained basis by 2022 on the back of reforms like GST, demonetisation and the Insolvency and Bankruptcy Code (IBC).

Indian economy grew by 6.6 per cent in 2017-18 and expected to grow at 7.5 per cent this fiscal.

"Given that we have done GST, demonetisation, IBC, recapitalisatioon of bank, we will grow at 9 per cent growth by 2022. We will also able to sustain it at that level," Kumar said in facebook live organised by NITI Aayog.

He pointed out that Indian economy averaged 8.3 per cent from 2003-11.

Replying to a question on popularising electric vehicles, he said that this is best time for India to encourage, promote electric vehicles as petrol price is now touching USD 80 per barrel.

"So we really should not wait even for a day to get this off the ground," the NITI Aayog vice chairman stressed.

Answering questions on farm sector, he said,"We are doing pilot projects which can demonstrate that farmers income can be doubled."

The government proposed double the income of farmers by 2022.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)