Key Points
More importantly, though, the bigger task is to ensure the fruits of such economic growth are spread widely..
For well over a year now, the government has been talking about a revival in private sector capital expenditure, and has been exhorting companies to start investing again..
Fresh investment announcements by the private sector fell 15.3% in 2023-24, while total fresh investment announcements, across government and private sector, dropped 4.8%, according to Projects Today, a web portal that tracks new projects..
But broader economic conditions contain challenges to get the private sector to invest in new factoriesfor example, private consumption growth being at its weakest in decades..
The governments production-linked incentive scheme to promote manufacturing in select sectors has some successes, such as Apple assembling iPhones in India (largely intended for the domestic market)..
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