Boosting private investment, banks’ growth major concerns: Jaitley

TIL Desk/Business/Mumbai/Looking at ways to boost economy amid a slowdown, Finance Minister Arun Jaitley on Friday said that encouraging private investment and improving capacity of banking system to support growth are the two major challenges for which best solutions have to be found.

“There are two major challenges – encouraging private sector investment and improving capacity of banking system to support growth. We have done adequate analysis as to the cause of these challenges,” he said addressing the 70th annual general meeting of Indian Banks’ Association (IBA) here.

“Now as a dynamic society we have to look for best solutions and ensure resolution of these issues faster.”Jaitley said that there was also a major challenge with regard to increase in stressed assets. “I think this is the core area of concern today. India has adequately demonstrated its ability to reform, grow at a reasonable pace when world was going slow. Indian administration is supportive of reforms.