There is neither any mention in the budget of public investment nor any steps to stimulate private investment. Since 2014, the so-called “ease of doing business” has hardly garnered any private investment. Despite interest rate cuts, there has not been any significant improvement in the investment rate. AdvertisingTo achieve this, savings must be augmented and the savings rate should be higher than the investment rate. At less than 5 per cent, India’s sovereign external debt to GDP ratio is among the lowest globally.

Source: Indian Express July 16, 2019 19:18 UTC