NEW DELHI: Private investment is picking up in sectors that are backed by government support, economic affairs secretary Anuradha Thakur said on Monday, calling on industry to take advantage of the assistance pledged in the budget for strategic sectors, including semiconductors, electronics and rare earth, and bolster investment.The government, she said, intends to stay on the fiscal consolidation path and reduce its debt-to-GDP ratio. This will weigh down the Centre’s borrowing costs and free up resources for priority sector spending, Thakur said at a post-budget event, organised by the Confederation of Indian Industry.
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The secretary said maintaining macroeconomic stability and credibility amid global turmoil is key to enabling long-term investment decisions and bolstering the country’s long-term growth orbit.
“We remain committed to maintaining fiscal discipline consistently without compromising on either growth or developmental priorities,” she said.