In today’s briefing:
- India: De-Leveraged, and Hence Set on a Path of Investment-Led Growth
- CX Daily: The Weak Link in China’s New-Energy Power Plan: Weather
India: De-Leveraged, and Hence Set on a Path of Investment-Led Growth
- Amid a global deceleration, India’s real GDP grew 13.5%YoY in Apr-Jun’22, led by GFCF(+20%YoY) and PCE(+26%YoY). Actual growth was under-estimated because of errors in deflators for GDP and net exports.
- Nominal GDP growth of 26.7%YoY enabled corporate tax revenue to rise 35%YoY and income taxes 50%YoY, bringing the 12mma of the fiscal deficit down to 6.1% of GDP.
- As the government’s market borrowing declines, it will crowd-in more private investment, enabling real GDP to grow 8% in FY23 despite the global slowdown. Stay Overweight.
CX Daily: The Weak Link in China’s New-Energy Power Plan: Weather
In Depth: The weak link in China’s new-energy power plan: weather
Debate rages after residents barred from earthquake evacuation due to Covid curbs
Xi tells nation to mobilize for ‘core technology’ breakthrough
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