Chief Economic Advisor Dr V Anantha Nageswaran said Leverage ratio in corporate sector went very sharply in first decade of millenium, second decade was thus a payback time, excessive credit growth had to be adjusted for in second decade, balance sheets now have been repaired, & credit growth is picking up.
India's improved balance sheets and digital infrastructure together will add anywhere between 50 - 100 basis points to India's potential GDP growth, which is what we were missing in the second decade of the millenium, said Chief Economic Advisor.
Phase 1 reforms in digital public infrastructure have set the stage for new-age reforms which will ensure that hitherto-neglected segments of society such as low-income households and microbusinesses get fair shot at accessing national and international markets.