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Rs 7,940 Cr earmarked for the budget recapitalisation of PSBs

News:

The government will infuse capital in public sector banks in the next three to six months.

  • Finance Minister Arun Jaitley has earmarked Rs 7,940 crore in the Budget for recapitalisation of public sector banks (PSBs) during the current financial year.
  • In 2014-15, the government had injected Rs 6,990 crore in nine public sector banks based on their performance.
  • Governments thrust is on manufacturing and agriculture sectors, raising investment in infrastructure and rural economy and rationalising subsidies.
  • The Rajya Sabha select Committee which is scrutinising the Constitution amendment Bill for roll out of the GST is expected to submit its report to the Upper House in July,2015. The Lok Sabha had already approved the Bill.

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