The improving with focus shifting from boosting cyclical growth through fiscal and monetary in rating agency Crisil

Quality of the country’s growth is improving with focus shifting from boosting cyclical growth through fiscal and monetary stimuli to “repairing the system and initiating structural reforms”, rating agency Crisil said.

“The biggest positive is that the policy focus hasn’t been based on populism, or on boosting cyclical growth through fiscal and monetary stimuli, but on improving the ‘trend’ growth by repairing the system and initiating structural reforms wherever possible,” it said in a report.

The report also noted that unlike China, the current growth in India is not supported by rampant credit creation.

“Credit growth has averaged 9.8 per cent in the last two years, almost in lockstep with 10.2 per cent nominal GDP growth, underscoring sustainability,” it said.


http://indianexpress.com/article/business/economy/quality-of-growth-improving-but-job-creation-is-key-crisil-2909315/