New Delhi, March 7 -- Increased private sector participation is necessary for balanced and sustainable investment momentum, said Crisil in its India Outlook.

"With the government normalising capex, it is time for the private sector to take the lead in furthering the investment momentum," the report added.

According to the rating agency, public sector investments and spending made by the government in the Union Budget announcements after the pandemic have paid off, with fixed investments being the key driver of GDP growth until the fiscal year 2024.

The report highlighted that now there is a greater shift in the policy strategy towards incentivizing private corporate investments.

After rising from the pre-pandemic average of 1.7 per ce...