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Indian industry seeks doubling of credit to restart engine

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The India Inc has called for a doubling of credit growth and relief in wages, taxes to help revive manufacturing as it awaits an economic stimulus to cushion the blow from the covid-19 pandemic NEW DELHI/MUMBAI : The Indian industry has called for a doubling of credit growth and relief in wages and taxes to help revive manufacturing as it awaits an economic stimulus to cushion the blow from the covid-19 pandemic. “Our thinking is that the economy requires credit to grow at 14-15% as compared to about 7-8% last year," said Vikram Kirloskar, president of Confederation of Indian Industry (CII). “To do this, banks will require extra capital support which can be leveraged 5-6 times to provide funds to industry.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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