In this Mint article, Niranjan Rajyadhyaksha, Research Director and Senior Fellow at IDFC Institute, writes about the structural changes needed to bring down the cost of capital in India. Excerpts:
"India is currently the fastest-growing major economy in the world, which is no small matter. The question is whether the current growth rate is enough to create quality jobs for a growing population. The experience of the two previous economic booms—in the mid-1990s and in the years before the global meltdown of 2008—is that a shift in trend growth requires an investment boom led by the private sector. One of the requirements for that is competitive cost of capital."
Read the full article here.