Budget 2022: Centre to drive investment-led growth

Gross fixed capital formation (GFCF), a measure of investment activity, has been pegged at 15% in FY22, after a contraction of 10.8% in FY21 and a mere 5.4% growth in FY20. But private investment is still weak and states are likely to spend more on healthcare than infrastructure. The Centre, therefore, will have to lead the investment push to boost growth further.