India should boost money supply, focus on infra: WB
World Bank chief economist Justin Yifu Lin on Friday, noted that by investing in the bottlenecks of the country like infrastructure, India could see pick up in demands, especially in the face of current crises, which would pave the way for a longer-term growth.
“Lin also pointed out that the monetary policy should be such that to reduce interest rates and increase money supplies, so as to spur demand. If money is invested properly, it wouldn’t lead to inflation and higher rates. Investment in infrastructure could revitalize manufacturing in India, which accounts for only 16% of the country’s total output, and contribute significantly to job creation,” said Lin who was addressing a press conference in Mumbai
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