India needs a minister for investment. Another statist intervention in a country that labors under an excess of bureaucracy might not look like much of a solution to anything. But for India to break free from the lower-middle-income trap(1)will require officials to marshal and allocate every scrap of funds prudently, and correct mistakes swiftly. Just having a minister of finance isn’t enough, as India’s own experience has shown. It’s a long game, but a minister of investment could at least get it going in the five-year window the next government will enjoy.

Source: Mint May 05, 2019 19:41 UTC