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

MumbaiMumbai: Social Worker Duped of Rs 4 Lakh Using Fake Letter With PM Modi’s Forged Signature; Two Arrested

OpinionsRein in War Profiteers!

MaharashtraSurya Tilak Ram Navami 2026: Divine Sunbeam Illuminates Ram Lalla’s Forehead in Ayodhya (Watch Video)

NationalNo Lockdown in India: Government Squashes Rumours, Calls Viral Claims 'Irresponsible and Harmful'

InternationalPM Modi and US President Trump Discuss West Asia Situation, Strait of Hormuz

कारोबार Realted Stories

BusinessMSEs, women-led enterprises help GeM clock Rs. 18.4 lakh cr cumulative GMV in FY25-26

BusinessKalpakkam nuclear reactor reflects India’s engineering enterprise: PM Modi​

BusinessBCAS, RRU to establish India’s indigenous aviation security equipment testing centre

BusinessBangladesh faces LDC graduation setback amid economic instability

BusinessMinistry of Mines notifies new rules to boost exploration of critical minerals