CHENNAI: Chief Economic Advisor Dr V Anantha Nageswaran allayed concerns regarding the lack of private investments, emphasising that they will increase steeply within the next four years.
At a panel discussion titled Getting the Economy Right: The Rise of India on the second day of the ThinkEdu Conclave 2024, presented by SASTRA University in Chennai, Nageswaran projected a sustained rise in the investment rate that would touch the mid-30s and result in a seven percent GDP growth.
While acknowledging the increased capital expenditure by the government, he suggested a gradual pullback.
“The momentum of increase witnessed over the last six financial years (FY 2018 – FY 2024) may not necessarily need to be sustained at the same pace. With the private corporate sector actively participating, there is now an opportunity for the government — not to retract in absolute terms but to curtail involvement,” said Nageswaran, during the session that was chaired by author and analyst Shankkar Aiyar.
