Finance Minister Nirmala Sitharaman said a Fund has been set up to rescue stalled realty projects.A total of 4.58 lakh housing units are stuck and around 1600 projects are stalled.
The CBI had registered an FIR alleging irregularities in a Foreign Investment Promotion Board (FIPB) clearance granted to the INX Media group for receiving overseas funds of Rs 305 crore in 2007, during Chidambaram's tenure as finance minister.
Chidambaram is currently in judicial custody in Tihar jail in a corruption case related to the alleged scam being probed by the Central Bureau of Investigation (CBI). His remand is slated to end on October 17.
Making a veiled reference to P Chidambaram, who served as the then Home Minister when the 26/11 attacks took place, Prasad said: "In 2008, there was an attack in Mumbai and both the Centre and the state governments at that time were so helpless. The Home Minister at that time said 'Sorry Mumbai' and he is in jail now."
"On the whole, it was very tonic-like meeting, where I heard a lot of positive things. Not one voice said there was a concern, shortfall of demand. None of them voiced liquidity concerns," Sitharaman said.
Discussion held on the performance of the banks was carried out with a focus on supporting credit needs of the economy, in particular, the needs of sectors such as NBFCs, HFCs, MSMEs, sectors under stress and enabling better access to cheaper credit.
Finance Minister Nirmala Sitharaman had recently sparked controversy by saying that the mindsets of millennial adversely affected the automobile industry as they preferred to use radio taxi services instead of buying their own vehicle.
Finance Minister Nirmala Sitharaman is addressing a press conference over the state of economy and also about the measures being undertaken for giving an impetus to the economy.
Denying any politics behind the sudden lack of support to the bill that was passed duly in both Houses of Parliament, Gadkari maintained that it is up to the states to care for the lives of their people.
Vehicle sales across categories registered a decline of 18.71 per cent to 18,25,148 units from 22,45,223 units in July 2018, it added. In fact, all vehicle categories witnessed a decline in sales during the month.
