Finance Minister Arun Jaitley has said that public investment has picked up significantly in India during the last two years. Addressing a seminar in Gurugram today, Mr Jaitley said, more public investment is necessary to counter global slowdown. He said, private sector needs to invest more to faster growth. Mr Jaitley said, there is a need for more efficient recovery process for defaulting companies. The Finance Minister said, RBI has been very flexible in addressing bank concerns. He said, India has liberalised greatly FDI foreign investment norms. He said, situation still remains challenging for domestic investments.