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Check Business Breaking News Live on Zee Business Twitter and Facebook. Get Latest Business News, Stock Market Updates and Videos Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. It expects domestic consumption to pick up and services exports to hold up better than goods exports. While India, like other economies, raised interest rates to battle inflation, Morgan Stanley said the country`s 39.45 trillion rupee ($529.7 billion) budget for the current fiscal year has continued to tilt towards lifting public investment. "The economy is set for its best run in over a decade as pent-up demand is being unleashed," the brokerage said, adding that "healthy" corporate balance sheets and business confidence bodes well for India`s investment outlook. Morgan Stanley`s outlook also comes as developed economies paint a glum picture, with business activity in the United States and eurozone contracting in July, as per their PMI data. The brokerage sees risks related to higher energy prices, spurred by the Ukraine war and supply constraints, to remain, but added that they have begun to recede. In 2019, India had cut corporate tax rates to woo manufacturers and revive private investment, and launched the PLI scheme in 2020 to aid domestic manufacturing.
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