The government is thinking of 360 degree solutions in terms of setting things in order for the infrastructure sector, Railway and Coal Minister Piyush Goyal said on Saturday.
Speaking on the rising NPAs of banks, the minister said that there was dubious and unjustified lending during the UPA government days and since 2014, when the NDA government came to power, banks have been asked to do only prudent lending.
He said India’s infrastructure sector was hit because companies that did not have the right intentions were awarded loans and the money was never invested in projects.
“The fall in credit growth is because we are not giving loans to businesses that don’t have the right credentials,” he said, speaking at a session on “Transforming India’s Infrastructure: Sustaining the Momentum” at the Economic Times Global Business Summit. Read More
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