July 22, 2024 17:04 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Supreme Court stays Yogi govt's Kanwar Yatra diktat given to eateries | 'They tried to silence me': PM Modi slams Opposition on day 1 of Parliament's Budget session | 'Serious problem in our examination system': Rahul Gandhi slams Dharmendra Pradhan over NEET in Lok Sabha | NEET row: Education Minister Dharmendra Pradhan says, 'No evidence of paper leak in past 7 years' | Budget will set tone and trajectory for next 5 years: PM Modi as Parliament's Monsoon Session begins today
Indian economy is facing challenges: Aurn Jaitley

Indian economy is facing challenges: Aurn Jaitley

| @indiablooms | 27 Aug 2018, 04:59 pm

New Delhi, Aug 27 (IBNS): Union Finance Minister Arun Jaitley on Monday said Indian economy is facing challenges and the attempt to recover funds from defaulters would continue.

Addressing a conference of bankers held by the Indian Banks’ Association, Jaitley said, "India has achieved financial inclusion at a pace which is higher than any other economy."

"We lived in a society where the creditor indefinitely chased the debtor, today the roles have reversed," said Jaitley.

He said the need of the hour is to expedite the process.

"We need to augment our capacity as far as NCLT and NCALT are concerned. This change of relationship has had a salutary effect," said he.

In an indirect attack to the Congress party, which has been claiming credit for about 10 percent growth after the back series of the GDP data were released, Jaitley said that the adverse effects of such a strong growth is more dangerous.

"If we have growth on the basis of 31% or 21% credit offtake, history will record it as growth on the back of indiscriminate lending," said Jaitley.
 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.