Reviving investment

Instead of trying to achieve a cyclical correction, the government should put in place a long-term agenda for boosting growth

The stock market is booming but there is gloom in many boardrooms. In many, a spirit of caution reigns and in some balance sheet woes are the source of concern.  Foreigners are pouring their money into India. (Or, is it round-tripping by the money which may have fled through import over-invoicing and hawala during the demonetisation scare?) But the big players are being cautious and putting more into debt than equity.  The Sensex and Nifty may be soaring. But real investment intentions are not.

The mood of investment pessimism in the private sector is reflected in the steady fall in