Budget 2016: A mere Rs 25,000 cr for bank recapitalisation not enough

Considering the mess that PSU banks are in, it’s surprising that the Finance Minister has allocated a mere Rs 25,000 crore for recapitalising them. This amount may not even be enough to compensate for the quarterly losses of state-owned banks.

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Budget 2016: IMF chief stresses structural reforms

China is not the only economy in need of structural reforms as they are fundamental for the success of every G20 economy, Budget 2016 IMF Managing Director Christine Lagarde said on Friday.

This was clearly recognised in the "G20 2009 framework for strong, stable, and balanced growth", she said at the G20 Finance Ministers and Central Bank Governors Meeting in Shanghai, reports Xinhua.

Budget 2016: Realtors Seek Loan Restructuring, Tax Sops

Faced with acute slowdown in demand and delay in delivery of projects, realtors’ apex body Naredco today demanded tax sops for affordable homes and restructuring of bank loans.

 As part of its pre-budget Click Here recommendation to the government for revival of the sector, National Real Estate Development Council (Naredco) has sought infrastructure status for the housing sector, industry status of the entire real estate sector, which would help the developers to get bank loans at less interest.

 "We have submitted our pre-budget 2016-17 memorandum to the finance ministry and Housing and Urban Poverty Alleviation. We have demanded infrastructure status for housing and single- window approval for realty projects,“ Naredco President Parveen Jain told reporters here.