State Bank of India's research team is banking hopes on a rising trend in Incremental Capital Output ratio (ICOR), which measures additional unit of capital (investment) needed to produce additional unit of output. ICOR which was 7.5 in FY 12 is now only 3.5 in FY22. India is on a sound footing, it says, while calling the notions of 'Hindu rate of growth' is ill-conceived.
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