 "Investment, money, savings, rupee")
The engines of growth are sputtering: consumption is sharply down, investment lies dormant, and exports have flatlined. The Economic Survey and Budget rightly emphasise the need to revive investment. Capital formation has dropped from the heady days of 2009-10. Small wonder that growth has decelerated and growth prospects appear dismal.
The Budget identifies infrastructure as providing the lead to the revival of overall investment. The reason: complementarity of public and private investment, public expenditure on infrastructure will create jobs fuelling consumption, and, growth in consumption will spur investment. Ergo, the virtuous cycle. The Budget also mentioned PPP as a major instrumentality
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