India's economy is going through a structural transformation and conventional paradigms are being challenged, Finance Minister Nirmala Sitharaman said. Businesses and banks are now more prepared than ever for new investments into the economy, the minister further said, acknowledging that more private investments are flowing into new-age sectors than into conventional industries. At the same time, the government is pressing ahead with inclusive development since "India is a very layered country". Edited excerpts from an interview:
We see that private consumption, which accounts for 60% of GDP, is likely to grow at only 4.4% in FY24. Does that concern you?
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