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Investment rate likely to rise to mid-30s in 5 years: Nageswaran
Financial Express Kochi
|December 13, 2024
EXPRESSING OPTIMISM THAT private sector investments will continue to rise, chief economic adviser to the government V Anantha Nageswaran on Thursday said the gross fixed capital formation (GFCF) rate may rise from 30.8% now to mid-30s in the next five years, aiding India to grow at a sustainable rate when the world is going to be extraordinarily difficult.
Nageswaran said the critical drivers that will sustain growth towards the Viksit Bharat goal by 2047 include generating productive employment, addressing the skill gap, tapping into the full potential of the agriculture sector, and enhancing India's manufacturing and MSME growth through deregulation.
Other priority areas include managing India's energy security and transition, balancing rural-urban development, continuing support to high-quality capital expenditure, and making 'Make in India' synonymous with high quality through innovations, R&D and quality consciousness.
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