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CHENNAI: Chief Economic Advisor Dr V Anantha Nageswaran allayed concerns regarding the lack of private investments, emphasising that they will increase 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. Currently, investments are at around 30% of GDP.While acknowledging the increased capital expenditure by the government, he suggested a gradual pullback. “The pace of increase that we have (had) to do for the last six financial years (FY2018- Fy24) may not necessarily have to be sustained. Now the private corporate sector is stepping in. So, there is scope for the government, not to pull back in absolute terms, but pull back the rate of growth (of our investments),” said Nageswaran, during the session that was chaired by author and analyst Shankkar Aiyar.
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Chief Economic Advisor sees rosy days ahead, predicts investments will go up to 35% of GDP
