Bharat won’t save the day

With ratings agency Crisil analysing NSS data to show the growth in rural consumption has, for the first time in nearly a quarter century, outpaced urban consumption, the old story of Bharat being in good shape and therefore providing a solid underpinning to demand has got another lease of life. As Crisil points out, between FY10 and FY12, rural consumption expenditure rose R3,75,000 crore as compared to R2,99,400 crore for urban consumption.

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