Taking a dig at Finance Minister Arun Jaitley shortly after he addressed the media, Congress spokesperson Manish Tewari took to Twitter and said that 'Hey Honey I Sunk the Economy' is the new bumper sticker of Jaitley.
Taking a dig at Finance Minister Arun Jaitley shortly after he addressed the media, Congress spokesperson Manish Tewari took to Twitter and said that ‘Hey Honey I Sunk the Economy’ is the new bumper sticker of Jaitley. Tewari said that if the economy was a wish horse then Arun Jaitley could have ridden it. “If EONOMY (sic) was a wish-horse @arunjaitley could have ridden it .Fact-IN41 months he created a New Bumper sticker HEY HONEY I SUNK THE ECONOMY,” he said in a tweet.
This tweet came minutes after Jaitley while addressing the media said that India has remained the world’s fastest-growing large economy for the last three years. “In government’s view, the fundamentals of the national economy continue to be strong,” the senior BJP leader said while announcing that the government has decided on the steps necessary to sustain growth momentum. The government also announced an aggressive Rs 2.11 lakh crore capital infusion for the NPAs hit public sector banks over a period of two years, according to a report by PTI.
If EONOMY was a wish-horse @arunjaitley could have ridden it .Fact-IN41 months he created a New Bumper sticker HEY HONEY I SUNK THE ECONOMY
— Manish Tewari (@ManishTewari) October 24, 2017
Out of this, Rs 1.35 lakh crore will be through recapitalisation bonds, while remaining Rs 76,000 crore from budgetary support, Financial Services Secretary Rajiv Kumar said. Arun Jaitley while briefing the media clarified that capital infusion would be done over the next two fiscals. He added that capital infusion would be accompanied by series of banking reforms which would be spelt out in the next few months.
The nature of the bonds and details of the bonds would be made public during the course of time, he said. The non-performing assets of banks have increased from Rs 2.75 lakh in March 2015 to Rs 7.33 crore as on June 2017, PTI reported. The Union Cabinet minister said that the banks would get Rs 18,000 crore under the Indradhanush plan. In line with the plan, public sector banks were given Rs 25,000 crore in 2015-16, and a similar amount has been earmarked for the following years. Besides, Rs 10,000 crore each would be infused in 2017-18 and 2018-19.