Focus will be on infra, rural sectors in Budget, says Jaitley

The minister said there was no blanket ban on promoters from bidding for delinquent companies, which were being sold to recover the dues of banks.

The Union Budget 2018, scheduled to be presented on February 1, will focus on infrastructure and rural sectors, Finance Minister Arun Jaitley said on Thursday.
 
While delivering speech at an event in Delhi, the minister said the government would “concentrate on additional spending” in these two areas.
 
In another event, he said India is well placed on the growth trajectory of 7-8 per cent, with improved macroeconomic fundamentals.
 
He was of the view that there should be heavy investment in infrastructure over the next two decades to graduate India into a middle-income economy.
 
He addressed the concerns of the business community after the promulgation of ordinance on new Insolvency law. 
 
The minister said there was no blanket ban on promoters from bidding for delinquent companies, which were being sold to recover the dues of banks. 
 
Only those who had not serviced their loan accounts by not even paying the interest on loans had been debarred, he added.
 
Source: Business Standard

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