Union Budget 2019: Nirmala Sitharaman announces booster dose for NBFC
In Union Budget 2019 speech, Finance Minister Nirmala Sitharaman addressed the acute liquidity crisis issue being raised by India Inc.
12:46 PM IST
In Union Budget 2019 speech, Finance Minister Nirmala Sitharaman addressed the acute liquidity crisis issue being raised by India Inc. While presenting the 'Bahikhata' proposals in the budget 2019 Sitharaman informed Parliament about the Modi 2.0 government's proposal of Rs 70,000 crore to the PSU banks and allowing FII's and FPI's to invest in debt papers of NBFC's.
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#BudgetWithZEE | #ModiSarkar2 का पहला 'बहीखाता'- देखिए वित्त मंत्री #NirmalaSitharaman #LIVE... #Budget2019 @AnilSinghviZEE @kunalsaraogi @iamrakeshbansal @Vishvesh03 @kiran_jadhav_ @SandeepKrJainTS @ashumadan4 @sanjiv_bhasin @Ajay_Bagga https://t.co/B3ovrxIZl5
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Speaking on this proposal of the government in budget 2019 Suresh Castellino, Executive National Director, Capital Markets & Investment Services at Colliers International India said, "By allowing FII's and FPI's to invest in debt papers of NBFC's will create and give a boost to the much-needed liquidity to the NBFC's. This may eventually help ease out the liquidity crisis in the Real estate sector among other business.”
Informing about the government's crackdown on the rising NPA in the PSU banks FM also informed the nation through the floor of the parliament that in the last one years, around Rs 1 lakh crore NPA has gone down which could happen through the recovery of around Rs 4 lakh crore by the IBC.
Hailing the budgetary proposals for NBFC in budget 2019 Aashish Agarwal, Senior Director, Valuation & Advisory Services at Colliers International India said, "Governments’ one-time six month credit guarantee for the purchase of assets of high rated NBFCs up to 1 lakh crore is a clear direction to the banking and NBFC sector of the Government’s commitment to resolving the crisis. Risk-averse banks needed this nudge from the Government to ensure the revival of lending activity and ensure the sustained flow of capital for sustainable and well-performing NBFCs.”
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12:46 PM IST