New Delhi: Chief Economic Adviser KV Subramanian on Monday said the private investment is key to economic growth and the recent cut in the corporate tax rate was done to boost investments.
"Private investment is the driver of economic growth. Steps that we are taking, be it corporate tax rate cut, be it code on wages and industrial relations, is to try and create a more favourable environment for investment," Subramanian said at the FICCI Young Leaders Summit here.
He said the investment is required for sustained economic growth.
"So there is indeed well thought out agenda in implementing these measures and the effects of these will show (results), " he said.