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India's real credit growth picking up - chief economic adviser
August 12, 2015 / 5:58 AM / 2 years ago

India's real credit growth picking up - chief economic adviser

NEW DELHI (Reuters) - India’s real credit growth has started picking up, the country’s chief economic adviser told reporters on Wednesday.

Chief economic adviser at Finance Ministry, Arvind Subramanian, speaks at the Global Business Summit in New Delhi, January 17, 2015. REUTERS/Anindito Mukherjee/Files

Arvind Subramanian also said higher indirect tax receipts suggest that the underlying momentum in the economy was improving.

India’s indirect tax receipts jumped nearly 40 percent provisionally to 567.39 billion rupees($8.76 billion) from a year ago, the government said in a statement on Tuesday.

($1 = 64.7850 rupees)

Reporting by Rajesh Kumar Singh; Editing by Malini Menon

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