Ahead of the presentation of the Union Budget next week, Congress general secretary in charge of communications Jairam Ramesh said the single most important statistic that explains India’s inability to grow faster since 2014 is the “sluggish investment rate”.
“India has been locked into a cycle of low investment since 2014, due to a combination of erratic policy, rampant cronyism, and the ED/IT/ CBI raid raj,” Ramesh said in a statement.
Low investment drags down the medium and longterm GDP growth rates, which in turn drags down wages and consumption growth, he said.
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