Finance Minister Arun Jaitley is likely to significantly ramp up public investment in infrastructure to boost growth, to offset a slowdown in private investments.
New Delhi: Finance Minister Arun Jaitley is likely to significantly ramp up public investment in infrastructure to boost growth, to offset a slowdown in private investments.
There is near unanimity that the economy needs to be spurred through higher public investment, unlike last year when there was a significant divergence of opinion over the need for fiscal stimulus, Mint newspaper reported, citing an official with knowledge of the thinking within the government.
Investment demand in the economy is expected to contract in 2016-17 by 0.2% from 3.9% growth in 2015-16, according to data released by the government’s statistics department earlier this month.
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