India on cusp of long-awaited economic take-off: RBI bulletin

Aggregate demand momentum in India is rising, with the overall non-food spending being pushed up by green shoots in rural spending recovery, the Reserve Bank of India said in its monthly bulletin on Tuesday. "Recent indicators are pointing to a quickening of the momentum of aggregate demand. In the personal consumption space, Nielsen IQ data indicate that a welcome pivot is underway that will boost this category of spending," the RBI said in its 'State of the Economy' article.