Reviving the animal spirit in the economy and increasing private investment: CEA
business-standard.com
India
07-02-2024
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The animal spirit is back in the Indian economy, according to Chief Economic Adviser (CEA) V Anantha Nageswaran, and this is seen in the noticeable increase in private sector investment.
"It has returned. How can the Indian economy develop at 7% if not? In an interview with PTI, he said, "You look at the manufacturing and services indices, the purchasing managers' index, the line between expansion and contraction, stock market performance."
He continued, "It has returned, and the GDP figures reflect that."
Renowned economist John Maynard Keynes used the phrase "animal spirits" to describe investors' confidence in acting on their investments.