India still desperately seeking green shoots
- High-frequency indicators show a small festive season consumption bump in late-2019. But is it a mirage?
- In this scenario, govt spending will continue to be important. But the economy is not generating enough taxes for the govt to spend. The tax kitty was down 10.6% in Q3.
MUMBAI : Gross domestic product (GDP) growth, a measure of economic growth, has been at 4.8% for the first six months of fiscal year 2020 (FY20). Within this, private consumption expenditure has grown by just 4.1%.
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