According to the economic survey and also the Mid Year Economic Analysis (MYEA), it is very important to increase investments in economy to increase the rate of development. The ratio of investments to the gross domestic product of the country in the year 2012-13 at current market value was 34.8%. This statistic is available only till 2012-13. The rate of growth of GDP in the year 20113-14 at constant prices and factor cost was 4.7%. In the first half of the current year (2014-15), this growth has been 5.5%.
String of measures taken to give a fillip to economy
To bring back investment on rails and also to increase its speed, many steps have been taken in the central budget for the year. Some of the measures taken in this direction include strengthening financial health, stress on reforms related to expenditure, making tax regime progressive and more reasonable, giving attention to industries and basic infrastructure, taking concretes measure in the fields of electricity and transport, and to encourage more foreign direct investment in certain sectors of the economy. On the other hand, stress on ‘Make in India’ slogan across the globe is to catch the attention of investors in different parts of the world so that they are motivated to invest in Indian economy. The main objective of this Make in India initiative is to introduce India as a very attractive destination for investment. It also aims to present India as a hub for designing and manufacturing. It is being hoped that this will make it easier for foreign companies to do business in India. The quality of basic infrastructure relates services would go up and India would come up as an attractive investment destination.
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About Sanjay Tandon
Sanjay Tandon is a graduate engineer from IIT Varanasi. He has been writing as a freelancer for many years. He loves to write on various niches. He is passionate about politics and economy and spends his free time watching news channels. He is also an expert on relationships.
