The Indian economy is now recognized as one of the fastest growing economies in the world. The past three decades have shown a good spread of income at various levels, and concentration of wealth seems to be gradually penetrating downward. This results in more households with higher incomes than they had earlier, and higher consumption arising out of the aspiration of middle-class households and also savings and forced savings (equated monthly instalments and loans, for instance).
Who is responsible for low mutual fund penetration in India?
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