Aggregate retail loans by banks make up under 10 pct of GDP; 55 pct in South Korea, 52 pct in Taiwan
The Indian economy witnessed a decline in credit to the industrial sector from 12.8% in 2014 to 2.7% in 2016, on account of economic slowdown due to supply-side constraints.
With expected higher growth of GDP, the credit growth in India is expected to pick up in the coming years mainly due to higher requirement of credit to infrastructure sector and government’s drive on financial inclusion.
To remove India’s economy from the cobweb of lower growth path, there is a need for driving higher investment in the sector
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