New Delhi, Nov. 22 -- Corporate tax cuts: Done. Re-capitalization of ailing public sector banks: Done. Providing funds to cash-strapped realty sector: Done. Putting money in the hands of rural population: Done. Spree of interest rate cuts by Reserve Bank of India (RBI). Done.
But the flurry of activity to revive the economy isn't showing results yet. The title of a recent equity strategy report by Jefferies India Pvt. Ltd pithily captures the predicament: Awaiting whatever it takes part deux.
"Credit growth is slowing and tax collections are now falling with power demand down a startling ~11% in October & November. A quick rebound even from the likely sub-5% GDP growth in 2QFY20 seems unlikely, therefore, making more policy impetus necess...