Dismiss Notice
Welcome to IDF- Indian Defence Forum , register for free to join this friendly community of defence enthusiastic from around the world. Make your opinion heard and appreciated.

Govt announces mega Rs 2.11 lakh crore bank recapitalisation and Rs 7 lakh crore road plan

Discussion in 'World Economy' started by Agent_47, Oct 24, 2017.

  1. Agent_47

    Agent_47 Admin - Blog IDF NewBie

    Joined:
    Aug 3, 2011
    Messages:
    2,958
    Likes Received:
    5,857
    Country Flag:
    India
    The Centre on Tursday announced a massive boost for the banking sector by approving a Rs 2.11 lakh crore bank recap plan for the ailing sector, which includes Rs 1.35 lakh crore via bank recap bonds and Rs 76,000 crore from budgetary support and market loans.

    This will certainly cheer up the banking sector, which is grappling with asset worries. Latest available data suggest some 39 listed banks had amassed Rs 8.35 lakh crore worth of non-performing assets.

    Among key important decisions to revive the economy, government also announced mega Rs 7 lakh crore road building project to develop more than 83,000 km of roads.

    Recognising the need for boost to economy Finance Minister Arun Jaitleysaid: "Government has conducted an extensive economic survey. We have had detailed consultation with Prime Minister on the state of the economy. We have decided on the steps needed to sustain the growth momentum."

    Finance Minister Arun Jaitley said the recapitalisation of state banks would be followed by a series of reforms. He did not give details.

    Here are the highlights of key decisions taken today:



    1. A mega road building programme. Under this programme government will construct 83,000 km highways with an investment of nearly Rs 7 lakh crore in the next 5 years. This will generate 14.2 crore man-days by 2022.




    [​IMG]

    2.
    Bharatmala project will be the umbrella project under which the mega road development work will be undertaken. Under this, government will develop 34,000 km of roads with an investment of Rs 5.35 lakh crore.
    [​IMG]

    [​IMG]

    3.
    Government also announced massive Rs 2 lakh 11 thousand crore bank recapitalisation plan.


    4. Highlighting the need to strengthening bank government said it's time to create stronger banks to catalyse stalled private investment in the country.



    [​IMG]

    5.
    Rajiv Kumar Financial services secretary. Government will position banks for take off in the economy.

    6.
    Under a 'realistic recognition' of banks NPA situation, Rajiv Kumar Financial services secretary said the NPAs jumped from 36% in the March 2014 to 82% in June 2017.




    [​IMG]


    7.
    The banking sector is grappling with asset worries. Latest available data suggest some 39 listed banks had amassed Rs 8.35 lakh crore worth of non-performing assets. State-run banks such as IDBI Bank, IOB, UCO Bank, Bank of Maharashtra, Central Bank, Dena Bank, Union Bank and Corporation Bank had gross NPAs in excess of 15 per cent of gross advances as per their latest disclosures.


    [​IMG]

    https://economictimes.indiatimes.co...lakh-crore-road-plan/articleshow/61202075.cms
     
    randomradio likes this.
  2. ranadd

    ranadd 2nd Lieutant FULL MEMBER

    Joined:
    Oct 25, 2016
    Messages:
    319
    Likes Received:
    317
    Country Flag:
    India
    Hope major chunk is atleast access controlled.

    Majority of Indians have no clue how/where to drive.
     
    Blackjay and Angel Eyes like this.
  3. randomradio

    randomradio Colonel REGISTERED

    Joined:
    Nov 22, 2013
    Messages:
    11,206
    Likes Received:
    6,312
  4. ranadd

    ranadd 2nd Lieutant FULL MEMBER

    Joined:
    Oct 25, 2016
    Messages:
    319
    Likes Received:
    317
    Country Flag:
    India
  5. The enlightened

    The enlightened Lieutenant FULL MEMBER

    Joined:
    Mar 11, 2012
    Messages:
    513
    Likes Received:
    295
    Bye bye FRBMA?
     
  6. The enlightened

    The enlightened Lieutenant FULL MEMBER

    Joined:
    Mar 11, 2012
    Messages:
    513
    Likes Received:
    295
    India is too small with too many people for that.
     
  7. ranadd

    ranadd 2nd Lieutant FULL MEMBER

    Joined:
    Oct 25, 2016
    Messages:
    319
    Likes Received:
    317
    Country Flag:
    India
    Density markers don’t support that 100% for access controlled highways. But anyways, let’s move on.
     

Share This Page