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RBI article on Private investment
Why is it in news?
- The Reserve Bank of India (RBI) recently published its article on growth and investment.
More findings of the Article:
- Only private investment is ‘missing in action’ at a time when all engines of aggregate demand are starting to fire to boost economic growth.
- A recovery based on a revival of consumption is underway.
- The key to whet the appetite for investment is to:
(1) Rekindle the animal spirits
(2) A spontaneous urge to action rather than inaction
(3) Not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.
- The Indian economy is estimated to contract by 8% during the current financial year on account of the impact of the COVID-19 pandemic.
- The economy is expected to stage a V-shaped recovery in the next fiscal year and record a double-digit growth.
Source: The Hindu