Pre-budget meeting with banks, FIs on Jun 10

Amidst concerns over rising bad loans, Finance Minister Arun Jaitley will hold pre-budget consultations

RELATED ARTICLES

with heads of banks and financial institutions on June 10 to deal with the situation.

Meeting with CMDs and CEOs of banking and financial institutions is scheduled for Tuesday, a day after the Finance Minister pre-budget consultation with state finance ministers, sources said.

To be presented in the first week of July, it will be the maiden Budget of Jaitley. It will also be the first major policy document of the Narendra Modi government and will spell out the direction for the economy.

Banks and insurance companies are likely to seek tax benefit for their products in the budget.

Bankers are likely to pitch for need to support infrastructure funding and make demand for issue of tax free bonds for this sector.

Intermediaries in the financial sector would suggest for rationalisation of transaction charges in the secondary market.

Jaitley kick started pre-budget consultations with different interest groups last week.

He faces several challenges on the economic front, like rising prices, subdued growth and the need to move ahead on the path of fiscal consolidation.

Among other things, he will also have to focus on streamlining subsidies which consume a major potion of government expenditure.

Soon after assuming office, Jaitley had said he was taking over in challenging times. "The challenges are very obvious. We have to restore the pace of growth, contain inflation and obviously concentrate on fiscal consolidation," Jaitley had said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Regional parties that brought diversity to Indian democracy are at a dead end

    In the two decades, which began in 1989, when the paradigm of coalition politics came to dominate central governments, it would have sounded far-fetch

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Kuruvilla Pandikattu SJ

What we can learn from agnosticism

As an agnostic, the American writer David Breeden is aware ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture