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Interim budget: India s Production-Linked Incentive (PLI) scheme, launched in 2020, aims to boost manufacturing, decrease imports, and increase exports. While critics, including former RBI governor Raghuram Rajan, question its effectiveness, the Commerce and Industry Ministry reports over Rs 95,000 crore invested and 746 approved applications till November 2023. The proposed industrial policy seeks to enhance competitiveness and identify areas of cost advantage over China. ....
But for that, India s inflation needs to align with RBI s target of 4% by the second quarter, and the balance sheets of financial institutions need to be strengthened and their asset quality improved, according to the article in RBI s January bulletin ....
The survey showed that 47.2 percent of CEOs were optimistic, and nearly 51 percent were cautiously optimistic about current economic trends. Additionally, nearly 70 percent of Indian businesses plan to make fresh investments in the next six months amid stronger corporate and bank balance sheets and the government’s capital expenditure push. ....