India’s growth is faltering after four years of post-pandemic recovery.
Stock markets are down, and the rupee is weakening faster than expected.
Domestic demand and public sector investment are losing momentum.
Private sector investments remain weak despite tax cuts.
Government capital expenditure grew at 16%, while corporate spending grew only 6%.
The U.S. administration’s changes to global trade and taxes add uncertainty.
The Economic Survey warns against complacency, which could lead to economic stagnation.
A refreshed approach to ease of doing business is necessary, with minimal market controls.
Empowering small businesses and ensuring fair competition are key to economic growth.
The Survey cautions against outdated policies like import curbs and production-linked incentives.
Regulators should be held accountable for their actions, just like businesses and citizens.
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