MER_Mar_2024_Report

The total outstanding credit of Scheduled Commercial Banks increased by 20.5 percent on a year-over-year basis in February 2024; credit growth remained strong for personal loans, services and agriculture and allied activities; growth in IIP core remained robust in February 2024; growth in IIP moderated in January 2024. [...] In Figure 6, for calculating the projected growth of the agriculture sector, we took the component Agriculture, Forestry & Fishing, and for the services sector, we took the aggregate of three components, trade, hotels, transport, communication and services related to Broadcasting, Financial, Real Estate & Professional Services and Public Administration, Defence & Other Services. [...] expd expd formation fishing Source: Ministry of Statistics and Programme Implementation (Figures 8, 9, and 10) Note: In Figure 9, for calculating the growth of the agriculture sector, we took the component Agriculture, Forestry & Fishing, and for the services sector, we took the aggregate of three components, i.e., trade, hotels, transport, communication and services related to broadcasting, Finan. [...] • Revenue inflows reached 81.9 percent of the RE for FY2023-24, as of February 2024, as compared to 84.3 percent of the RE for FY2022-23, as of February 2023 (Figure 19). [...] • Total expenditure reached 83.4 percent of the RE for FY2023-24, as of February 2024, in line with the RE for FY2022-23, as of February 2023 (Figure 20).