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Economic Survey calls for fresh review of asset quality of banks post COVID
The exercise, if it happens, will have huge implications in the banking system. A bad loan clean-up will mean banks will see a sharp spike in bad loans from the current level.
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Chief Economic Advisor Krishnamurthy Subramanian addresses a press conference on Economic Survey 2020-21, in New Delhi. (Photo | PTI) By Express News Service
NEW DELHI: In a bid to get a clearer picture of the banking system asset quality, the Economic Survey has called for a fresh review of asset quality of banks after the Covid-19-related regulatory forbearances are removed.
Amitabh Bachchan s beautiful face remark on IMF Chief Gita Gopinath leaves netizens divided
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Budget 2021: Sell stakes in PSUs; prioritise spending to boost economy, says Raghuram Rajan
Raghuram Rajan said prioritising spending is important as it would help the government focus on what is essential, such as relief to poor households and small businesses
BusinessToday.In | January 15, 2021 | Updated 18:15 IST
Former RBI Governor Raghuram Rajan
As Finance Minister Nirmala Sitharaman prepares to deliver her third Budget on February 1, former Reserve Bank of India (RBI) Governor Raghuram Rajan has said the government should take advantage of the rally in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. He said that Budget 2021 should focus on providing relief to the poorer households and small and medium enterprises .
Prioritise spending, boost infrastructure, sell PSUs: Raghuram Rajan on Budget 2021
India
Published: Thursday, January 14, 2021, 20:30 [IST]
New Delhi, Jan 14: Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track.
The upcoming Budget for the fiscal year beginning April 1 should look to provide relief to the poorer households and small and medium enterprises, he said.
And then move on to getting the economy back on track. It (the government) has to prioritise spending which means focus on what is essential such as relief to poor households and small businesses, he told ET Now.
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