There were major expectations of a big growth stimulus package from Nirmala Sitharaman's maiden Budget in the backdrop of a serious slowdown in the Indian economy. That was however not to be, except for the Rs 70,000-crore capital infusion announced for State-run banks.
But it's worth recalling that not even all of this money will go towards a credit boost that can give a leg-up to the economy. According to former SBI chairman Arundhati Bhattacharya, around Rs 30,000 crore of this amount can be counted as growth capital for PSBs.
#Budget2019
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There were major expectations of a big growth stimulus package from Nirmala Sitharaman's maiden Budget in the backdrop of a serious slowdown in the Indian economy. That was however not to be, except for the Rs 70,000-crore capital infusion announced for State-run banks. But it's worth recalling that not even all of this money will go towards a credit boost that can give a leg-up to the economy. According to former SBI chairman Arundhati Bhattacharya, around Rs 30,000 crore of this amount can be counted as growth capital for PSBs. #Budget2019