Sustaining the Momentum

To maintain the current pace of growth, there is a need to further pursue expansionary policies. However, even as the government announces new initiatives, the adherence to the fiscal responsibility rules, which is truly restrictive from a development perspective, makes the public posture on expenditure programmes appear less serious in reality and when the funds are finally allocated they turn out to be too meagre to have any decisive impact. Similarly, there has to be an appropriate policy on credit delivery, which also calls for efforts to strengthen institutional and instrument development amongst banks.