India is on the cusp of long-awaited take-off on the back of rising aggregate demand, and non-food spending in rural economy, according to the Reserve Bank of India May Bulletin released on Tuesday. The outlook for the global economy is turning fragile as the descent of inflation is stalling, re-igniting risks to global financial stability, said an article on 'State of the Economy' published in the Bulletin. Capital flows have become volatile as nervous investors turn risk averse, it added. The article is prepared by a team led by Reserve Bank Deputy Governor Michael Debabrata Patra. The article further said "there is a growing optimism that India is on the cusp of a long-awaited economic take-off" as recent indicators are pointing to a quickening of the momentum of aggregate demand. It notes that for the first time in at least two years, rural demand for fast moving consumer goods (FMCG) has outpaced urban markets -- in the quarter just gone by. FMCG volume growth of 6.5 per cen