Amartya Lahiri on Fostering Economic Growth
Ideas of India
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What's Happened With the Indian Story of Growth?
Lending growth has been going down. So people aren't borrowing, even though rates are coming down. What that also is showing up is the mix of borrowers is worsenning as well. Which is why the spreads have stayed up. The guys who are willing to borrow are mostly the more risky guys. That spending is essentially discretionary spending of the upper middle class and richer components of india. And this is nitest indias moving everywhere, vrywhere.
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