Low-cost IndiGo's business class foray signals K-shaped growth here to stay
Mint SnapView has been highlighting. What this shows is that ‘K-shaped economic recovery’, as economists call the phenomenon, is at risk of becoming a continuing trend in the absence of policy steps to correct the imbalances.
Policy steps that can prevent the economy from falling into a lopsided growth pattern urgently needed include a massive push for labour-intensive manufacturing and exports, as Mint SnapView has been pointing out. That will spread the benefits of economic growth to vast swathes of the population and help them become a part of the consumption base.
The ‘India Growth Story’ was never about the rich prospering, companies making profits by catering to their consumption needs. India’s growth story ought to be about the average Indian earning and consuming more.
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