The finance ministry released the September Economic Review report on Monday. As per the report India’s economy remained stable in the first half of FY25, bolstered by rural demand, but urban consumer demand moderated. The divergent trend in rural and urban demand is the opposite of last year, when rural demand fell. These trends – both last year’s and this year’s – highlight the wide importance of rainfall in the Indian economy. Going forward, the report also warned of potential risks from geopolitical tensions and high valuations in global markets that could further impact household spending.
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