Indias growth trend is on cusp of a post-pandemic upshift
Mumbai, April 1 -- Michael Debabrata Patra, Deputy Governor of Reserve Bank of India noted in a latest speech that India's growth trend is on the cusp of a post-pandemic upshift, with early signs of it rising above 7 per cent recorded during the 2000s before COVID-19 struck. While private consumption typically accounts for about 60 per cent of India's GDP, it is investment and exports that provide the turning points. In the period 2021-24, the export lever has been muted by global headwinds, but public expenditure on infrastructure is taking over as the locomotive of the step-up in the growth trend. Recent surveys indicate that private investment is getting crowded in.
He stated that India's recent growth performance has surprised many, ...
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