New Delhi: Chief Economic Advisor (CEA) Krishnamurthy Subramanian on Thursday said that, investment and not consumption, will drive the economy.
Speaking at the 13th Edition of Mindmine Summit 2019 in New Delhi, Subramanian said, India needs to focus simply on Investment emphasising that reforms should be focussed on encouraging investments by private players.
The theme of this year's Mindmine Summit is “The New Decade: One Nation, Multiple Destinies”.
Subramanian further acknowledged that there are some sectors which are reeling under slowdown . However, he also highlighted that there are some sectors which are doing well by growing at 15 percent.
The CEA also reiterated that the government can't be expected to intervene every time some sectors go through a bad phase. “We have to be careful not be basically swayed by anecdotes,” the Subramanian said on concerns of an economic slowdown.
The other key speakers for the event were Power Secretary Subhash Chandra Garg, Congress MP Shashi Tharoor, Niti Aayog Chairman Rajiv Kumar, National Institute of Public Finance & Policy (NIPFP) Director Rathin Roy.