Harbinger of market instability? Economic Survey warns against soaring m-cap-to-GDP

India's Buffett Indicator (market cap-to-GDP ratio) is at alarming levels, highlighted in the Economic Survey presented in Parliament. Despite reaching 124% by December 2023 and an estimated 136% by June 2024, caution is advised as it doesn't correlate with economic progress. Factors include a strong macro outlook, corporate earnings, and significant retail and foreign investments driving market highs.