Sunday, August 16
Mumbai: Credit demand in India is getting a boost from the reduction in the goods and services tax (GST) and a more accommodating monetary policy, which have helped spur investment activity, data from the Centre for Monitoring Indian Economy (CMIE) shows. As of the end of December, credit demand saw a year-on-year growth of 14.5%, according to CMIE data. Investment proposals in the first nine months of the financial year increased to ₹26.62 lakh crore, up from ₹23.62 lakh crore a year ago, data showed, supporting the pickup in credit growth. Outstanding bank credit at the end of December stood at ₹203.2 lakh crore, crossing the ₹200-lakh crore mark for the first time. Year-to-date (YTD) credit expanded by ₹20.78 lakh crore, compared with an increase of ₹13.18 lakh crore in the
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