While the productivitylinked incentives (PLIS) are a good start to spur local manufacturing, the government should also take steps to boost consumer demand, which is not showing encouraging signs, say chief executive officers (CEOs) of India Inc.
Statistics released by the Reserve Bank of India (RBI) shows that Indian banks had sanctioned loans worth ₹75,558 crore in 220 new projects - a record low in the pandemichit financial year ending March 2021. This is not showing any signs of a significant pick up in the last nine months of the ongoing financial year.
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