After implementation of various reform measures like Goods and Services Tax (GST), note ban and the bankruptcy code, the strengthening of public sector banks (PSBs), infrastructure and housing are going to be the top priorities for government next year.
Finance Minister Arun Jaitley emphasized the need to continue the momentum on infrastructure creation and expedite investment in railways to propel the Indian economy, including on stations, quality of trains and proposed bullet train, as they are core factors to India’s future growth story.
Finance Minister also outlined need to complete the task of strengthening the PSBs to improve their lending capacity and added that this will support growth and help the economy to become formal. He noted that banks have a lot of money lying with them but their lending capacity is limited due to lack of capital adequacy. Jaitley also mentioned that housing in rural areas by 2022 is going to be top agenda along with these two areas.