This refers to the debate “Is India moving towards a stagflation-like situation?” (July 4). It would be correct to assert that the Indian economy is neither in a stagflation period nor in recession. In spite of external turbulences, our economic fundamentals remain sound.
The economy should be able to grow and even sustain its growth if we take up the development of infrastructure on a war footing. The sector has been neglected for years and its underdevelopment has drastically affected the supply side of the economy. This is the main reason for the spiralling costs of goods and services. We need policy reforms in the infrastructure sector to give the necessary support and push to industry.
Anand Wadadekar Pune
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