City
Epaper

Hopeful growth will be better in H2: Finance Minister

By IANS | Updated: November 15, 2019 21:40 IST

Finance Minister Nirmala Sitharaman on Friday said it was too early to say if the slowdown in the economy had bottomed out but she hopes the growth in second half of the fiscal will be better.

Open in App

The Minister also said companies are planning new investments as a response to corporate tax cuts announced in September.

Asked if she expected the growth to be better in the second half, she said: "I may not be able to predict about it, but I am hopeful that it will be better."

The GDP growth for Q2 is expected towards the end of this month and a recent SBI report said it could be at 4.2 per cent lower than the current 5 per cent of Q1.

At a media interaction here on Friday, Sitharaman said that actual investments may take some time to materialise but there are considerations by corporates.

"Actual investments may take some time to materialise. Three cities with four projects have been identified for relief under Real Estate Fund," she said.

On the liquidity extensions to the NBFCs, she said PSU banks have given funds to the AAA-rated NBFCs but AA-rated NBFCs have met her on their funds issues.

"I have sought details from RBI and PSU Banks on funds given to investment grade NBFCs (which are not AAA) and top 50 NBGCs were engaged with banks for disbursal of funds. Government has launched several steps since August to revive economic growth from the weakest pace..."

Prime Minister Narendra Modi's government has unveiled several steps since August to revive economic growth from the weakest pace now touching 5 per cent, a 16-year low.

( With inputs from IANS )

Tags: PSUSitharamanNarendra ModiIans
Open in App

Related Stories

HealthInternational Yoga Day 2025: Know Theme, Date, and How Yoga Can Benefit Life on Earth

PunePune Bridge Collapse: PM Modi Speaks to CM Fadnavis as Death Toll Rises to 4

National"Unimaginable That Vijay Bhai Is No More”: PM Modi Mourns Former Gujarat CM's Death In Ahmedabad Plane Crash

NationalRajasthan Family’s Last Selfie Before Ahmedabad Plane Crash Goes Viral, Captures Final Moments

NationalAhmedabad Plane Crash: PM Narendra Modi Reviews Situation With Officials After Site Visit

कारोबार Realted Stories

BusinessGovt imposes import restrictions on certain gold-containing precious metal alloys to prevent gold imports in disguised form

BusinessHuman mind will always be supreme, superior to any AI, India does not see this as concern for job loss: Piyush Goyal

BusinessChintan Research Foundation to focus on evidence-based research: Pranav Adani

BusinessAshwini Vaishnaw meets Russian Deputy PM, discusses rare earth metals and infrastructure

BusinessElsa-3 shipwreck: Kerala mulling admiralty suit against MSC shipping company