Need to further fuel the engines of consumption, private investment: Industry


There is a need to further fuel the engines of household consumption and private investment to improve aggregate demand in the economy, industry chamber PHDCCI said on Sunday.

He added that the government should step up spending on the National Infrastructure Pipeline (NIP), as increased spending on projects will give a multiplier effect to rejuvenate aggregate demand in the economy.

More direct benefit transfers need to be considered for the urban and rural poor as part of various social assistance programs, in addition to the distribution of free dry rations, said PHDCCI President Sanjay. Aggarwal.

The chamber projects a double-digit GDP growth path of 10.25% in 2021-2022, supported by effective government policies and improving corporate sentiment.

The improvement in key economic indicators signals a widespread recovery in the coming months, which will be greater than pre-COVID economic activity, he added.

“At this stage, it is necessary to further fuel the engines of household consumption and private investment to improve aggregate demand in the economy, as this will have an accelerated effect on the expansion of capital investment in the country. “said Aggarwal.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting-edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor


Comments are closed.