Credit has to expand 18-20% for India to become $5 trillion economy

As per industry leaders, achieving the government target of making India a $5-trillion dollar economy by 2024 from around $2.7 trillion at present would require annual credit growth in the range of 18-20%. This kind of growth was last seen following the stimulus in FY11 when bank credit grew 21.5%. As on August 2, the year-on-year bank credit growth was 12%.

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