Getting out of the way should be the government’s motto to attract output-enhancing investments
Last week, I had written that India’s challenge will be one of managing and sustaining high growth, rather than of dealing with slower growth. This flies in the face of conventional wisdom and the arguments of those worried about hysteresis. In my view, corporate deleveraging in India and the scope for copious capital inflows (already evident) from around the world offer room for optimism. Recent monetary policy meetings in America and in Europe only reinforce this prospect.
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