India's public spending could crowd out private spending, says CEA

India's chief economic adviser said on Friday that the current pace of public spending in the country could crowd out private spending.

The South Asian nation needs to ensure that combined public and private spending does not raise the cost of borrowing, V. Anantha Nageswaran said at an event in New Delhi.

(Reporting by Nikunj Ohri and Shivangi Acharya; Editing by Krishna N. Das)