India's rural economy drives growth, outpacing urban areas due to increased gov't spending and favorable monsoon conditions.
Anand Rathi's report reveals India's rural economy as a key driver of growth, outpacing urban areas due to increased gov't spending. The growth trend is set to continue, bolstered by favorable monsoon conditions and enhanced sowing data. The government's Rs 11.1 trillion capital expenditure plans aim to boost infrastructure development, positively impacting the rural economy. India's GDP growth rate is anticipated to be 7.2% for FY25, and strong tax revenue and RBI dividends may lead to a lower fiscal deficit, potentially improving India's credit rating.
August 16, 2024
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