India’s government notes persistent private investment challenges, with companies holding cash instead of expanding production. Factors include weak consumer demand, export difficulties (energy shocks, tariffs, cheap imports), fiscal rebalancing, and monetary tightening. Corporate tax cuts benefited profits, not leverage. Land acquisition barriers and wealth transfer further dampen investment, while foreign investment lacks focus. Correctives like I-T cuts and GST rationalization are implemented. Future challenges involve accelerating real wage growth to match economic performance and protecting the emerging consumer class from imported inflation due to external supply shocks.