Bank recapitalisation historic, will boost business: Amit Shah

Finance minister Arun Jaitley 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.

BJP chief Amit Shah described the government’s announcement of Rs 2.11 lakh crore for bank recapitalisation as “historic” and said it will not only give impetus to businesses but also provide employment to the youth.

Union minister for finance and corporate affairs Arun Jaitley with finance secretary Ashok Lavasa, revenue secretary Hasmukh Adhia, chief economic adviser Arvind Subramanian and other top officials during a press conference at National Media Centre in New Delhi. (PTI Photo)

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

He congratulated Prime Minister Narendra Modi and finance minister Arun Jaitley for the bank recapitalisation decision, terming it as “historic”.

In a tweet, 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 fresh momentum to economy.

Jaitley announced on Tuesday 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.