Posted 2/3/2024, 6:14:30 AM
India Can Sustain Growth Despite Slowing Private Investment, Says Finance Secretary
- India can sustain current growth levels with or without private capex, per Finance Secretary Somanathan
- Govt allocated Rs 11.1 lakh crore for infrastructure spending in 2023-24 budget, 11% higher than this year
- Increase significant given lower nominal GDP growth forecast of 8.9% for 2023-24
- Growth driven by strength of domestic demand, economy grew 7% plus last 3 years
- Govt will continue higher spending even without private investment, already achieved current growth rates
