Decreasing growth rate: former governor Raghuram Rajan responsible-Chairman!
The policy commission has directly blamed former RBI governor Raghuram Rajan for the low economic growth rate. Policy Commission Deputy Chairman Rajiv Kumar on Monday said that due to the policies of Raghuram Rajan, the impact of GDP has been affected. Kumar said that the major reason behind the decline in the growth rate is the increasing NPA growth in the banking sector.
Big news for Flat Bookers, policy commission prepared by the Planning Commission.
NPAs worrisome for banks
The Deputy Chairman of the Policy Commission said when the present government took charge in 2014, the figure of non-performing assets (NPA) of banks was Rs 4 lakh crore. Later, in the middle of the year 2017, there was an increase of Rs 10 lakh crore. The effect was that banks reduced the loan to small and medium enterprises quite a bit. This has seen negative growth in these areas. Even in the big industry, the loan rate of the loan has remained only between one and a half to two percent in a quarter or a month. It has a historic position in the Indian economy.
D Report of Amit Singh Negi for idea for News from Delhi/dehradun
