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.
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Mr Shashwat Goenka, Chair, FICCI #YoungLeaders Forum presents 'Green Certificate' to Dr @SubramanianKri, Chief Economic Advisor, @finminIndia at #FICCIYoungLeaders Summit. pic.twitter.com/M4o1ddm8TD
— FICCI (@ficci_india) December 9, 2019 " class="align-text-top noRightClick twitterSection" data="
">Mr Shashwat Goenka, Chair, FICCI #YoungLeaders Forum presents 'Green Certificate' to Dr @SubramanianKri, Chief Economic Advisor, @finminIndia at #FICCIYoungLeaders Summit. pic.twitter.com/M4o1ddm8TD
— FICCI (@ficci_india) December 9, 2019Mr Shashwat Goenka, Chair, FICCI #YoungLeaders Forum presents 'Green Certificate' to Dr @SubramanianKri, Chief Economic Advisor, @finminIndia at #FICCIYoungLeaders Summit. pic.twitter.com/M4o1ddm8TD
— FICCI (@ficci_india) December 9, 2019
He said the investment is required for sustained economic growth.