Jefferies expects higher government salaries and potential arrears under the 8th Pay Commission to support discretionary spending in FY28. Implementation timing remains uncertain, while a weak monsoon and fading GST-related benefits could weigh on consumption.
Jefferies expects higher government salaries and potential arrears under the 8th Pay Commission to support discretionary spending in FY28. Implementation timing remains uncertain, while a weak monsoon and fading GST-related benefits could weigh on consumption.
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