It’s Not Double-engine Growth!
While India's consumption demand and trade deficit were a dampener, the gross fixed capital formation grew by a solid 11%, a double-digit growth for the first time in five quarter.
While India's consumption demand and trade deficit were a dampener, the gross fixed capital formation grew by a solid 11%, a double-digit growth for the first time in five quarter.
Debt-fueled consumption marked by growing “unsecured” loans, high-frequency indicators limited to formal sector and government capex which is feeble don’t really add up.