The hardening of the rupee thereby hitting exports in the last financial year has led to a decline in the gross bank credit from 35.1 per cent in 2006-07 to 25.1 in FY 2007-08.
On the contrary, Sectors like infrastructure and Cement and cement products. Credit allocation to the infrastructure sector has increased from 30,122 crore in FY 2006-07 to 59,321 crore in the last financial year- an increase from 26.7 per cent to 41.5 per cent.
The banking sector also witnessed growth of credit from Cement and cement products industry. The credit disbursements grew by 30.9 per cent from 7,136 crore in FY 2006-07 to 8,617 crore in FY 2007-08.
The Associated Chambers of Commerce and Industry of India
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