Jaitley pushes the growth button
The Budget has allocated almost $90 billion for building new infrastructure. This will help restart the stalled private investment cycle and spur demand but the absence of serious efforts to resolve the non-performing assets (NPA) problem in the banking sector will hurt. Indian finance minister Arun Jaitley, who reiterated his earlier statement that private investment remains sluggish despite incentives, has done his bit to revive the entrepreneurial instincts of private entrepreneurs, both domestic and foreign, by announcing a massive $90-billion infrastructure [...]