This probably means that some signs of revival are beginning to show in the investment cycle. I must qualify by saying that it is too early to rush into any conclusion. Nonetheless, this is an interesting fact which deserves attention. 3.
Our analysis also showed that there is evidence of some amount of deleveraging (i.e., reduction in borrowing) during the first half of this financial year. The proportion of available funds that was used to reduce the long-term and short-term borrowing during the first half of 2019–20 was 11 per cent and 4.2 per cent, respectively. 4.