"Government capex has already been good and I think that it will stay at good levels. So, it is an investment-led recovery in the economy. Its concomitant effect will be on increasing loan growth. The starting point of corporate balance sheets are very good. Corporate debt to GDP has declined considerably over the past four-five years. So, I think we are in the midst of a loan boom and I think we should also see pretty good conditions for consumption, though I think as I said investments will likely lead the economy in the next few years," says Morgan Stanley India MD.
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