Investment and not consumption

It is interesting that TCA Srinivasa Raghavan has followed up his column on Dec. 5 in which he advises India’s Finance Minister to focus on reviving investment rather than consumption with another column on Dec. 7 in which he questions the usefulness of ‘backseat drivers’.

But, this delightful irony apart, his column on Dec. 5 is a useful read because it highlights how India’s growth experience has always been a case of ‘stop-and-go’.

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