Economy path: GDP growth can cross 8% if India Inc ramps up investments, says former RBI deputy governor Michael Patra
Michael Patra highlighted corporate India's insufficient investment as a hurdle to exceeding 8% growth. Demand uncertainty deters firms, while consumption and investment could create a virtuous cycle. He defended rate hikes for stability, suggested MPC expansion, and stressed labor market reforms, climate change mitigation, and global integration for sustained growth.
Michael Patra highlighted corporate India's insufficient investment as a hurdle to exceeding 8% growth. Demand uncertainty deters firms, while consumption and investment could create a virtuous cycle. He defended rate hikes for stability, suggested MPC expansion, and stressed labor market reforms, climate change mitigation, and global integration for sustained growth. What's Your Reaction?
