Private consumption and housing investment, albeit with some fluctuations caused by the consumption tax hike, are expected to remain resilient as a trend, supported mainly by improvement in the employment and income situation. Meanwhile, prices have risen markedly in the past year.
Today, when we look ahead, we still see challenges, but we can  prepare for them with optimism and confidence. The Indian financial markets have developed appreciably over the years. Liquidity in the government securities and the overnight money markets have grown. Bid-ask spreads remain narrow, reflecting efficiency in price discovery.