In addition to more investment, India needs less consumption and higher savings. The government has taken a first step by tightening its own budget and spending less, especially on distortionary subsidies.
除了加大投资，印度需要减少消费、增加储蓄。政府已经迈出了第一步——紧缩自己的预算、减少支出，特别是自由裁量补贴支出。家庭也需要更强的激励增加财务储蓄。新的固定收益工具，如通胀指数债券，能起到辅助作用。降低通胀率亦然，这能提高银行存款的真实回报。削减政府支出并辅之以收紧货币利率能促进价格稳定。