Investments were quite higher in the first quarter of the current financial year when compared to the washout of the corresponding period of 2020-21, but it was way down against the normal year of 2019-20 or fourth quarter of 2021-22. While the finance ministry believes that the investments are being driven by the private sector, most independent economists say it is pushed up by the government and public sector enterprises.

       Investments rose 55 per cent in the first quarter of 2021-22 on a low base of 46.6 per cent a year ago, giving an overestimated figure. The correct picture ...