Key Points
The Indian economic growth is majorly being driven by strong private consumption in the recent period, even as two new drivers of growth have emerged, the Finance Ministry said in its latest monthly economic review..
Yet, despite the stronger domestic macro fundamentals, the Indian economy sees downside risks from global headwinds and uncertainties in weather conditions, the ministry said...
Among the new two additional drivers of growth India is witnessing, one is the gradual strengthening of investment demand, the ministry said..
While this continues unabated, increasing demand for residential properties, supported by responsive housing loan financing, has given a fillip to construction activity and the property markets, the report said.. Industrial activity firming up is the second new driver, as per the ministry..
An improvement in corporate balance sheets couple with fledgling investment activity, in addition to a strong banking system makes this outlook brighter, the report said.. Downsides to growth..
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