The decline in real disposable income due to the rise in the consumption tax rate and the discontinuation of the special income tax reduction can be cited as a factor behind the sluggish household expenditures.
An analysis of investor class in security receipts (SRs) does not depict any divergence. It is observed that seller banks / FIs have been subscribing majority of SRs. On an average seller banks / FIs have been subscribing 74 per cent of total SRs issued during the period March 2010 to March 2015.