Chidambaram said the other reason for fall in growth was stagnation in investment. “The peak gross fixed capital formation as a per cent of GDP was 34.3% in 2011-12. Even in 2013-14, it was 31.3%. However, in the last three years, it has remained constant at 28.5%. At that level of investment, it is not possible to achieve higher growth rates,” he argued.
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