Stimulus package to rely on rate cut

The slight rise in credit to industry by banks in the fortnight ending December 5, reversing a sustained decline through November, has given government managers the hope of a revival in the industrial sector. According to RBI data, non-food credit to industry has turned positive at Rs 7,560 crore for the fortnight ended December 5 after turning to a negative of Rs 9 crore in the previous fortnight.