Economy Watch - India’s Debt Growth Remains Weak In Q1 FY22: Motilal Oswal
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Motilal Oswal Report
India’s non-financial sector debt grew by 11.6% YoY in Q1 FY22 (quarter-ending June 2021), marginally slower compared to the nine-quarter high growth of 11.9% YoY in Q4 FY21.
Outstanding non-financial sector debt rose to a fresh high of Rs 358 trillion in Q1 FY22. However, it eased to 170.5% of gross domestic product (from 177.8% of GDP) due to normalisation in nominal GDP.
Within non-financial sector, general government debt (center plus states) continued to grow strongly at 17.5% YoY in Q1 FY22, while non government, non-financial debt continued to grow decently, but at a six-quarter high of 6.1% YoY.
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