India’s Economic Growth was Fuelled by Credit, Has Become Unsustainable
CP Chandrashekhar explains how liberalisation led to a credit boom which put India on a high growth trajectory, but that growth was unsustainable.
CP Chandrashekhar explains how liberalisation led to a credit boom which put India on a high growth trajectory. But now, due to rising NPAs, banks can no longer lend as they used to. Growth is slowing down and the government is unprepared to accept it.
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