New Delhi: After India’s GDP recorded a three-year low of 5.7 percent the government is trying to implement a plethora of measures to stimulate economic growth.
Finance Minister Arun Jaitley has announced that he would take all the necessary steps to boost the Indian economy. If sources are to be believed, the government is mulling on measures to strengthen bank balance sheets by recapitalizing public sector undertaking (PSU) banks.
According to the official sources: “Some recent data raises certain concerns… and a lot of it has to do with the capacity of the banks, particularly PSBs, and therefore we are in the process of discussion and very shortly whatever is required to be done in order to improve the environment in terms of policy, we’ll certainly react to it.”
With regard to the recapitalisation of banks, Finance Minister said, “It’s an obvious analysis that anybody dealing with the situation would make. Now, what steps will be taken, please wait for a decision on the matter.”