Private investment main driver to growth
Learning from the global financial crisis, the economy has been viewed as either in a virtuous cycle or a vicious cycle and therefore the concept of equilibrium economics has been disbanded. Second, rather than trying to tackle various economic challenges of demand, jobs, exports et cetera in silos, the Survey makes the case that these phenomena are all complimentary. Therefore, creating the virtuous cycle with investment, especially private investment, as the main driver can enable growth in each of these important macro variables.
"Investment will be key driver of growth," India Chief Economic Advisor Dr KV Subramanian said in a press brief post the survey being tabled in Parliament.
