Below-expectation inflation may boost growth by hiking real wages: Ind-Ra
The economists said a percentage point increase in real wages leads to a rise in GDP by 0.64 percentage point. So, if inflation were to fall from 5.3% (current projection for Ind-Ra) to 4.5% in FY24, it could lead to real wage rising to 4.4% from 3.6% and GDP growth settling at 6.4% compared to projected 5.9%.
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