The Three 'C's of Growth

Consumption, capex and credit to add steam to India's economic growth

- Shri V.P.Nandakumar

The Indian economy has been growing at a rate that was seen only during the immediate years that followed the liberalization and reforms over two decades. There is a near consensus among academics, analysts and commentators alike that the activity levels in the country continue to maintain its world-beating pace and may close the running fiscal with an awesome 8% growth (plus or minus a few basis points.) Proving the nay-sayers wrong, this makes India a `magic economy’ considering many of the world’s largest economies, perhaps barring the United States, are in the throes of recession, if not already in recession.