From RBI’s website — here is a graph that states what everyone already knows, but still paints a very telling picture. The figures are in Rupees Crores and represent the deployment of gross bank credit.
The line that will catch your attention is — Construction. Any guesses on how fast this is going to fall from here on?
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It’ll definitely be going down rapidly once the 2009 figures are out. What I don’t get is that the crisis started in mid 2008 so should we be able to see a decline already (or is that already incorporated into the graph)?