Multilateral agency Asian Development Bank(ADB) said, India will have to resolve policy and regulatory issues such as environmental issues and land acquisition if it wants to be in higher growth trajectory.
ADB said, India will have to resolve its complex policy and acts, with regards to land acquisition by industrial sector, inorder to invigorate its private sector.
The private sector has been majorly responsible for the growth of India. India which was growing at the rate of 9% prior to financial crisis has faced an economic slowdown and has reported a growth of 5% for 2012-13
The World Bank has estimated the growth of 4% and IMF has estimated 3.75% growth for 2013-14.
ADB said, it will invest 10 billion $ into India till 2017, mostly into private sector and will help India to push it towards higher growth trajectory.
SOURCE: Business Line