In FY22, total outstanding credit of scheduled commercial banks rose to ₹118 lakh crore which is almost 50% of GDP. Incremental growth in FY22 over FY21 was ₹9.41 lakh crore. In the first half of FY23, though, outstanding credit of banks had already expanded by ₹11 lakh crore over FY22 (full year).
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Budget 2023: Credit Growth Signals Economic Activity
Incremental growth in FY22 over FY21 was ₹9.41 lakh crore.
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Expenditure on Central schemes up 20% in FY24
India's expenditure on Central schemes in FY23 rose from budgeted ₹16.2 lakh crore to ₹18.6 lakh crore.
Retail, NBFCs drive credit offtake in FY23
India's gross bank credit off-take rose 15% in FY23 to ₹136.8 lakh crore. The growth was led by sectors such as NBFCs, personal loan and services segments.
The Start-up Boom
The Indian start-up ecosystem is now the third-largest in the world, thanks to the rise of digital technologies and growth in the number of young entrepreneurs.
Infographic: Rail accidents decline sharply
In FY22, there was only one level crossing accident and two collisions
Infographics
Expenditure on Central schemes up 20% in FY24
India's expenditure on Central schemes in FY23 rose from budgeted ₹16.2 lakh crore to ₹18.6 lakh crore.
Retail, NBFCs drive credit offtake in FY23
India's gross bank credit off-take rose 15% in FY23 to ₹136.8 lakh crore. The growth was led by sectors such as NBFCs, personal loan and services segments.
The Start-up Boom
The Indian start-up ecosystem is now the third-largest in the world, thanks to the rise of digital technologies and growth in the number of young entrepreneurs.
Infographic: Rail accidents decline sharply
In FY22, there was only one level crossing accident and two collisions
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