No, domestic demand alone won't induce foreign investors to come to India

Thinking India can induce enough private investment just because of the size of its market is a big mistake

The Economic Survey, which is by tradition presented the day before the Union Budget, is frequently more forward-looking and economically sensible than the actual Budget. Naturally: The former is written by economists and the latter by bureaucrats, even if both want to please the same politicians. There’s also the small matter of the Budget having to live in the real world, while Surveys can live — as many economists do — in the world of the ideal.
 
Even so, the differences between this Budget and the Survey in their broad approach are startling. And worrying, because they throw into