Govt Gives A Jumbo More Than Rs 5 Lakh Crore Booster Dose To Public Infrastructure

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Govt gives a jumbo Rs 2.11 lakh crore booster dose to public sector bank.

 Finance Minister Arun Jaitley (Major Announcement)

●Between 2014-15 and 2017-18, banks have made provisions of over Rs 3 lakh crore, more than 10 times the amount made in the preceding 10 years.

●Government announces unprecedented PSU banks recapitalisation program of Rs 2.11 lakh crore. Of this, Rs 1.35 lakh crore will come from recap bonds, while the rest will come from the market and budgetary support.

●Jaitley says it is essential to increase public spending on infrastructure, and that expenditure on infrastructure is taking place at an unprecedented level at the moment.

Jyant Harde : LIC Agent In Nagpur

●Jaitley says that the recapitalisation of PSU banks will be accompanied by a host of banking sector reforms that will be detailed by the government at a later date.

●Jaitley says that whether or not the recapitalisation bonds will impact fiscal deficit is a function of what the nature of the bond will be and which agency issues the bonds. But even if it is a part of the fiscal deficit, it will be in the larger interest of the nation.

● Finance minister Jaitley says that the entire Rs 2.11 lakh crore of capitalisation be spread over this fiscal year and the next. (ELECTION EFFECTS)

●GST among traders has been very encouraging so far says Jaitley.

Impact: Capital Infusion may Boost PSU Banks in near term.

jayant@jayantharde.com

www.jayantharde.com

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