Bank recapitalisation historic, will boost business: Shah

Hailing the Centre's announcement of Rs 2.11 lakh crore for bank recapitalisation as "historic", BJP chief Amit Shah has said the move will not just give an impetus to businesses, but also provide employment to the youth.

He also hailed the announcement on Rs 6.92 lakh crore spending on infrastructure.

The BJP national chief congratulated Prime Minister Narendra Modi and Finance Minister Arun Jaitley for the bank recapitalisation decision, terming it as "historic".

In a tweet last night, Shah said the "courageous" decision will not only give impetus to businesses but also provide job opportunities to the youth.

In another tweet, he said spending on highways will lead to creation of world class infrastructure and give a fresh momentum to economy.

Jaitley had yesterday announced a massive Rs 6.92 lakh crore infrastructure spending and another Rs 2.11 lakh crore for bank recapitalisation to revive investments as well as growth.

The capital infusion, the finance minister said, will be accompanied by reforms to enable the state-owned banks to play major role in the financial system and give a strong push to the job-creating MSME sector.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)