The Indian economy is on a strong wicket with strong macro-economic fundamentals and has been the fastest growing economy for the last 3 years, Union Finance Minister Arun Jaitley has said. Out of the capital expenditure target of Rs 3.09 lakh crore, Rs 1.46 lakh crore has already been spent. Central public sector units have spent an additional Rs 1.37 lakh crore out of their target of Rs 3.85 lakh crore. Banking sector non-performing assets (NPAs) rose from Rs 2.75 lakh crore in March 2015 to Rs 7.33 lakh crore as on June 2017, Department of Financial Services Secretary Rajiv Kumar said. Of that Rs 1.75 lakh crore relates to just 12 cases which have been referred to NCLT (National Company Law Tribunal).

Source: India Today October 24, 2017 11:30 UTC