30 OCT,2019 | MEDC
Investment is the engine of sustained economic growth, and if, over the coming five years, we are to become a $ 5 trillion economy, structural reforms are essential to incentivize investment. Consumption can only have relatively short-term effects, and in the long run there is no alternative to enhancing investment, mainly by enhancing the ease of doing business in the economy. In this regard, it is heartening to know that India has climbed 14 spots to 63 in the 2020 Edition of the World Bank’s Ease of Doing Business Rankings. The Finance Minister has also said that some steps would be taken to relax GST compliance as well as making it easier to start a business in India. This is probably how some of the much-needed investment in the economy could materialize.
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