India’s growth story is far from over. But govt must incentivise household savings, spur consumption | The Indian Express

India’s growth story is far from over. But govt must incentivise household savings, spur consumption | The Indian Express

India’s growth story is far from over. But govt must incentivise household savings, spur consumption

Given a large jump in household leverage, monetary policy is unlikely to retain the effectiveness through large rate cuts in the current scenario. Only a counter cyclical fiscal response might address the core of the current problem.

By Soumya Kanti Ghosh