In the fiscal year 2023, bank credit is expected to grow at a four-year high of 11-12 percent owing to improved economic growth and government budgetary support. Bank advances are expected to increase by 9-10% in the fiscal year ending March 2022, said crysil report.

According to Crisil Ratings "Healthy economic growth and government budgetary support should raise bank lending growth by 200-300 basis points to 11-12 percent this fiscal,". The increased resilience of the financial sector also supports the greater credit growth outlook, the report said.

The largest difference projected this fiscal, according to Senior Director and Deputy Chief Ratings Officer Krishnan Sitaraman, is an upshift in the corporate credit growth trajectory, which is expected to double to 8-9 percent. "The Union Budget estimates public capital expenditure at about Rs 7.5 lakh crore, up significantly from the previous fiscal year, with a strong emphasis on public infrastructure. The drivers would be the downstream impact on core sectors, as well as the Production Linked Incentive (PLI) scheme launched for 13 essential sectors "he stated Metals and metal products, chemicals, engineering, and construction are among the industries that should see the most increase, he noted.

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