nirmala sitharaman

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.

Nobel Prize winner also said that he "liked" the idea of Ayushmann bharat scheme that aims to help economically vulnerable Indians who are in need of healthcare facilities.

Regarding her bilateral meetings on the sidelines of the IMF's meetings, the minister stressed that the negotiations between India and the United States to reach a trade deal is underway in "full speed".

The IMF on Tuesday slashed India's economic growth projection for 2019 to 6.1 per cent but said that it might pick up to 7 per cent in 2020.

Speaking to reporters on the sidelines of the annual meetings of the International Monetary Fund and the World Bank, Sitharaman said that the Commerce Ministry is working on the trade deal with Washington and hopes to conclude the negotiations soon.

Last month, the RBI restricted the activities of the PMC Bank for six months and asked it to not grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits.

"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.

The government led by Prime Minister Narendra Modi has unveiled various measures to arrest the falling growth -- from rolling back of higher tax surcharge for foreign investors to mega reforms in the public sector banking space.

The Prime Minister stressed the recent announcements show that the government is "leaving no stones unturned" to make India more business-friendly and to achieve a USD 5 trillion economy in the next few years.

To stabilise flow of funds into the capital market, the enhanced surcharge introduced by the Union Budget will not apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for securities transaction tax.