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Capitalization of banks must to facilitate credit to MSMEs in upcoming fiscal: Jaitley

Updated: Dec 15, 2017 10:07:27am
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Capitalization of banks must to facilitate credit to MSMEs in upcoming fiscal: Jaitley

New Delhi, Dec 15 (KNN) Outlining the tasks that the government plan to undertake with regard to the upcoming fiscal, Finance Minister Arun Jaitley said that strengthening of the banks through capitalization in order to ensure credit to the Micro, Small and Medium Enterprises (MSMEs).

Jaitley made the following remarks during the Annual General meeting of industry body FICCI.

The lending capacity of the bank is under stress due to reasons including capital inadequacy. In the upcoming fiscal, the government is targeting to address the concern so that the MSMEs can be ensured continued credit, which in turn would add to the economy, Jaitley said

Commenting over the need to address infrastructure, the finance minister said that it is important to maintain the momentum along the line.

Also the focus area for the upcoming budget is to include expenditure on housing and sanitation, the finance Minister added.

Earlier holding consultations with a panel of economists as a part of the pre-budgetary meeting, different concerns including the need to work on bank capitalization were raised. (KNN/ DA)

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