Who gave bad loans

20180922_113005

Who Gave Bad Loans – Urjit or Gadkari Prabhu Goyal & Jaitley

November05, 2018 (C) Ravinder Singh ravindersinvent@gmail.com

The problem with RBI governors everywhere is that they take credit for GDP growth and when in countries BADLY GOVERNED like India – anything good politicians take credit and for every Negative Growth blame Past Government or RBI. Gadkari, Prabhu, Goyal DUMPED Public money on Unviable Projects.

I told Kapil Sibal in 2005 thrice ‘Your Government is Doing Well But Data is not Presented Properly’ – he thought I am pulling his legs when actually ‘Accurate Data’ is like Health Check of Economy.

In April-August 2018 period Money Stock growth was barely Rs.2,60,000 Cr but Credit growth to Government was Rs.3,80,000 Cr. Government taking Rs.76,000 Cr for LAMEDUCK UNVIABLE UNDESIRABLE Projects. Credit growth to Industry and Agriculture was Rs.2,300 Cr and Rs.24,200 Cr only. Personal Loans and Services secured Rs.1,11,500 Cr and Rs.1,50,900 Cr bulk of Credit growth.

Credit Growth rate under UPA-II was 113% [43%], Industry 149% [7%], Agriculture 97% [58%], Services 107% [65%] and Personnel Loans 80% in 2009 now 100% in H12018.

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=23682

DATA ON SECTORAL DEPLOYMENT OF BANK CREDIT IN RS. 100 CR

Sector

Mar16

Mar17

Mar18

Sep18

4.5 Yrs

0.5 Yrs

I. Gross Bank Credit (II+III)

66500

71455

77303

80250

43%

3.8%

III. Non-food Credit (1to4)

65469

70945

76884

79774

44%

3.8%

1.Agriculture & AA

8829

9924

10302

10544

58%

2.3%

2. Industry

27307

26798

26993

27016

7%

00%

3. Services

15411

18022

20505

22014

65%

7.4%

4. Personal Loans

13922

16200

19085

20200

100%

5.8%

Sector

March09

March14

5 Years

March15

I. Gross Bank Credit (II + III)

26473.68

56208

112%

61023

III. Non-food Credit (1 to 4)

26018.25

55296

113%

60030

1.Agriculture & AA

3386.56

6660

97%

7659

2. Industry

10543.90

25165

149%

26576

3. Services

6462.99

13375

107%

14131

4. Personal Loans

5624.79

10097

80%

11663

https://www.rbi.org.in/Scripts/BS_ViewBulletin.aspx?Id=17833

No. 7: Sources of Money Stock (M3)

Source

March16

March17

March18

Aug2018

1 Net Bank Credit to Government

32,410.3

38,690.9

40,147.3

43,947.1

2 Bank Credit to Commercial Sector

78,219.1

84,514.3

92,389.0

93,689.9

3 Net Foreign Exchange Assets of Banking Sector

24,907.1

24,920.1

28,946.2

29,952.3

4 Government’s Currency Liabilities to the Public

219.1

250.9

256.0

257.0

    5 Banking Sector’s Net Non-monetary Liabilities

19,212.1

19,932.3

21,624.9

25,132.2

M3 (1+2+3+4–5)

116,543.4

128,443.9

140,113.5

142,714.0

Source

March13

March14

March15

March16

1 Net Bank Credit to Government

27,072.1

30,504.6

30,151.2

32,410.3

2 Bank Credit to Commercial Sector

56,646.6

64,497.0

70,558.0

78,219.1

3 Net Foreign Exchange Assets of Banking Sector

16,366.6

18,998.4

22,021.1

24,907.1

4 Government’s Currency Liabilities to the Public

153.4

171.7

194.4

219.1

5 Banking Sector’s Net Non-monetary Liabilities

16,418.5

19,105.2

17,168.0

19,212.1

M3 (1+2+3+4–5)

83,820.2

95,066.4

105,756.8

116,543.4

INVENTING INDIA THINK TANK – INNOVATIVE TECHNOLOGIES & PROJECTS

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