Will Country's Private Sector Obtain an Upstream Push Through PM Modi's 100 Lakh Crore Investment Target Proclamation?
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Putting in the idea of investment led growth in India; Prime Minister Narendra Modi shared his vision of targeting the economy of Rupees 100 Lakh Crore investment in the next five years. India has been travelling with the unstable economy since past few months. Although, operated by the economy and business experts, nation’s economy graph had been in the elevating slope since past years. But in the recent times, the country’s budget and finance has moved to the down level resulting in the slowdown of the private sector. The Prime ministerial statement of targeting the big amount investment (Foreign as well as domestic) might bring transformation in the economic structure of the country.
List of sectors which needs to get emphasized upon for investment
Auto Sector: Sector with the employment of 37 million people and which contributes around 7.67% to the nation’s economy got a massive push back through the nation’s economy insolvency. Many big companies faced a downfall in its sale and employment status due to major breakdown in the economy. PM’s view can act as a tipping point for the sector in manufacturing as well as employment.
FMCG: This sector is considered to be the top most sectors running with the rapid growth in the country. FMCG faced a slowdown deceleration being driven by North and West zones in India. Ill time rainfalls too affected the domestic market and rural status of FMCG striked badly. Nielsen FMCG sector's growth rate to be in the 9-10% range as against its previous assessment of 11-12% on account of softening consumption for the third straight quarter which is led by a sharp rural deceleration, report said.
Banking Sector: Banking sector has been the targeted sector amidst the economic slowdown since years. PM Modi assisted banks mentally by admiring it by saying that no growth was possible if bankers stopped taking decisions on a day-to-day basis. PM appealed to the nation’s bankers to pass on the advantages of low level interest rates to the borrowers.
We will do everything possible to make India the world's best investment destination and a better place to do business in, apart from going "as far as possible" to revive the "animal spirits" and make the "entire private sector bullish", Prime Minister Narendra Modi
Adding into this Prime Minister Modi mentioned the auto sector and said India had a large-enough market and policy space to ensure growth of both internal combustion engine-based automobiles and electric vehicles.