Ind-Ra’s growth estimate is higher than the Reserve Bank of India’s forecast of 7.2 per cent. The economic survey of the Finance Ministry also expects the GDP to grow at 6.5 to 7 per cent for the year
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The improved growth outlook is supported by several factors, including sustained government capital expenditure, deleveraged corporate and banking sector balance sheets, and the emerging private corporate capital expenditure cycle
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Ind-Ra believes the emerging prominence of digitalisation, distance education mode and e-learning content will be the key positive in the Indian education space.
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