....The investment-to-GDP ratio was relatively stable around 27 per cent in the few years before that period, but accelerated sharply to cross 30 per cent, peaking at 38 per cent, as I indicated earlier, in 2007-08. Now, there is a complex story behind this transformation, which only a much longer piece would do justice to. But there is one very important dimension to it, which is what I want to focus on here...........
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