The surprise resilience shown by the manufacturing sector that restricted GDP contraction to only 7.5 per cent in September quarter could be a result of massive purge in costs such as employee cost by corporates and businesses, which could turn a potential headwind in future, economists at SBI wrote.
The Centre's budget spending in October rose 9.5% on year, after 26% decline seen in September and the budget estimate of 13.2% annual spending growth for FY21.
