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Govt announces Rs 7 lakh cr road building program, PSB capitalisation plan of Rs 2 lakh cr

Finance Minister Arun Jaitley addressed press conference at National Media Centre on Tuesday.

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Govt announces Rs 7 lakh cr road building program, PSB capitalisation plan of Rs 2 lakh cr

FM Arun Jaitley (ANI)

Finance Minister Arun Jaitley addressed press conference at National Media Centre on Tuesday.

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The Ministry of Finance made major announcements during the press conference.  

Here are the live updates from Ministry of Finance's press conference:

# Will announce a set of banking reforms in the next few months

# Between 2008 & 2013, public sector banks engaged in indiscriminate lending

# Those who were used to 2G scam and coal scam will have a lot of problems with legitimate tax

# Need to step up public expenditure. Measures today will boost infrastructure spending in a big way

# It was decided that a bold step needs to be taken by the Govt to recapitalise banks

# Public sector banks have adequate lending capacity now, post demonetisation

# Need to step up public expenditure. Measures today will boost infra spending in a big way

# There is a need to increase public investment: Arun Jaitley

# Today's decision will be highly beneficial to MSME sector and for job creation

# Cabinet has approved an unprecedented PSB capitalisation plan of Rs 2 lakh 11 thousand crores

# Consistent control on inflation

# Ensuring solid fundamentals

# Secretary, DFS explains Govt.'s plan to strengthen Indian banking sector

# Renewed focus on Indian Railways

# SAUBHAGYA to ensure Power For All

# Universal affordable housing is being implemented

# Big push to be given to rural road connectivity

# Take a look at the expenditure on road construction, from the presentation

# Some details of financing of road construction under Bharat Mala 

# About 2000 km of coastal roads to be constructed in Phase I of Bharat Mala

# Border road connectivity to be strengthened, enhancing national security

# The biggest component of road building program, the Bharat Mala program. 34,800 kms of roads to be built: Ashok Lavasa,Finance Secretary

# Biggest component of road building programme - Bharat Mala programme, announces Ministry of Finance

# Effective and targeted Government spending is the main priority of Government: Ashok Lavasa, Finance Secretary

# A historic decision has been taken regarding road construction: Secretary, DEA

# Special thrust has been laid on five key sectors of roads, housing, Railways, Power and Digital Infrastructure: Secretary, DEA

# Effective and targeted Govt. spending a key priority of Government: Secretary, DEA

# Govt has consistently laid focus on public investment and infrastructure for welfare of common man: Secretary, DEA

# Confident to exceed disinvestment target for this year: Secretary, DEA

# GST has been the biggest reform, along with others like demonetisation and fight against black money: Secretary, DEA

# Transformational reforms have been another part of the India growth story: Secretary, DEA

# Real GDP growth average is 7.5% in last 3 years: Secretary, DEA

# Fiscal consolidation story is credible: Secretary, DEA

# We have crossed $400 billion forex reserves: Secretary, DEA

# Very low level of Current Account Deficit: Secretary, DEA

# There has been a consistent low inflation story: Secretary, DEA

# There is very low level of current account deficit, in safe ranges of less than around 2%: Subhash Chandra Garg, Secretary, DEA

# Government presents economic plan ahead

# The Government has decided on the steps needed to sustain the growth momentum

# India has remained world's fastest growing large economy for the past three years

# When results of the GDP of the first quarter came out then I had said that we will be ready for the response

# There have been lot of discussions and reviews of the economy in the past few weeks within the ministry

# We need to boost economic growth, many discussions about economy presently underway

# There are strong macro-economic fundamentals and we are looking for ways to bolster it further 

In the earlier press conference, the Finance Minister had announced major relief for Goods and Services Tax. He announced to waive-off late fees for businesses filing GST returns. 

Ministry of Finance Arun Jaitley press conference Finance Minister press conference