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Balanced bank credits for balanced economic growth in India

The study found that, there is a very close relationship between bank credit to a sector and contribution of that sector to GDP in the entire three sectors. The study also found that, there is an imbalanced growth in Indian economy over the years. | Balanced bank credits for balanced economic growth in India International Journal of Management IJM Volume 8 Issue 4 July August 2017 pp.52 59 Article ID IJM_08_04_007 Available online at http www.iaeme.com ijm issues.asp JType IJM amp VType 8 amp IType 4 Journal Impact Factor 2016 8.1920 Calculated by GISI www.jifactor.com ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication BALANCED BANK CREDITS FOR BALANCED ECONOMIC GROWTH IN INDIA Sanjaya Jena Research Scholar Department of Business Administration Sambalpur University Odisha India ABSTRACT Indian economy is based on three pillars such as agriculture sector manufacturing sector and service sector. For the balanced economic growth in India all the said sectors should grow simultaneously. Any imbalance in the Growth among the three sectors create problem for the economy in the form of inflation import etc. Secondly bank credits to business and economic growth rate are positively correlated Suna Korkmaz 20151 Rashmi Umesh Arora 8 . By considering the above two cases the present study has given an effort to find out the degree of association that exist between bank credits to a particular sector and contribution of that particular sector to GDP. So that by controlling bank credit to a particular sector policy makers can control the whole economy for a balanced economic growth. The study found that there is a very close relationship between bank credit to a sector and contribution of that sector to GDP in the entire three sectors. The study also found that there is an imbalanced growth in Indian economy over the years. Service sector is growing faster than manufacturing and agriculture sector. Agriculture sector is growing slowly as compare to the other two sectors. There is a need and big opportunity in the economy to accelerate primary and secondary sectors through bank credit accelerator to bring the three sectors in to a common hide which is being neglected over the years in Indian economy. The .