Confederation of Indian Industry (CII) President SANJIV PURI wants the government to seriously consider raising public capital expenditure (capex) by a fourth to “strengthen the competitiveness and productive capacity of the economy”. Puri—who heads the conglomerate ITC Ltd—also underscored the importance of private sector investments, assuring that the industry will continue to increase capex going forward. In an interaction with RAVI DUTTA MISHRA and SUKALP SHARMA, Puri delved into the health of the Indian economy, recovery in consumption levels, challenges and the way forward for India Inc, and key priority areas that the government should focus on to boost economic growth.
Edited excerpts: A new term for the government has just started. Where does the economy stand now and what should be the key priority areas that need active interventions and reforms? There are a lot of positives in the economy on account of numerous purposeful policy interventions of the past. Multiple reforms have taken place.
Now we must look at the next phase to unlock further potential. There should be continued public investment for inclusive growth ..
. public capex, besides creating jobs, also strengthens the competitiveness and productive capacity of the economy, thereby contributing to a virtuous cycle. We are recommending a 25 per cent increase .
.. We are also saying that some additional thrust should be provided for rural India in particular, in areas like housing, physical connectivi.
