ALSO READ >>> Corporate loans rise, while personal loans fall in March; ‘CareAge Ratings’ report paints a promising picture of the banking business

The growth rate will be higher in the first and fourth quarters and lower in the second and third quarters than the RBI’s estimates, she said. The increase in the growth rate forecast is also mainly based on increased capital expenditure by the government, reduced bad debt burden on the balance sheets of companies and the banking sector and the start of the cycle of capital expenditure by private companies. Although there are many positive indicators, there are also some challenges in increasing the growth rate. These include consumer consumption i.e. uneven growth in demand and challenges facing exports due to global conditions. India Ratings has also given a cautionary warning in this regard.