DISTRIBUTION OF TOTAL RECEIPTS ACROSS DIFFERENT COMPONENTS (IN %) 2022-23 BE 2021-22 RE 2020-21 2019-20 2018-19 2017-18 2016-17 2015-16 2014-15 2013-14 2012-13 2011-12 2010-11 2009-10 0% 41 51 57 58 56 53 54 52 53 48 48 45 20% 40% 11 9 18 2 60% 14 12 13 10 1 2 41 80% 100% Tax Revenue Non Tax Revenue Recovery of Loans Other Receipts Borrowings and

So what is camouflaged by the robustness of corporate situation, and well capitalised banks is the persistently stressed Indian households whose income constitute 78 per cent of India’s GDP. The other dimension of this stress is that the burden of fiscal consolidation from a high level of public debt, estimated at ₹270 trillion or 90 per cent of

We are coming towards the end of the 4Q results season and the results so far have been muted. In terms of revenue growth, 4QFY25 will likely be the 8th consecutive quarter of single-digit growth. Of the companies that have reported so far, revenue growth has totalled 7% YoY, down from ~8% in the preceding two quarters.