In this episode of Statecraft Conversations, former Finance Secretary Subhash Garg joins former Gujarat Chief Secretary J.N. Singh for a wide-ranging conversation on India’s GDP, government spending, infrastructure, digital payments, and the broader economic picture. The discussion spans government capital expenditure and the broader growth narrative, and whether higher spending is translating into higher productivity. Railways, roads, and other infrastructure investments come under discussion, along with the distinction between spending and outcomes.