 "Illustration by Binay Sinha")
India has set itself a goal of doubling the GDP in five years. The Economic Survey presents a case for unleashing “animal spirits” and making private investment the key driver of this growth. It outlines the creation of a “virtuous cycle” led by private investment that will drive demand, create capacity, increase labour productivity, introduce new technology, allow creative destruction, and generate jobs.
Private investment: The driver?
Should the focus of economic planners be on private investments? Or should investments by the government (public investments) be the driver? There can be no clear answer. Public investments could have negative or positive impacts
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