India’s Economy Shifts from Twin-Balance Sheet Problem to Advantage, Banks Boost Profitability: FM

  • Finance Minister Nirmala Sitharaman announced that the concerted efforts of the Modi government have transitioned the Indian economy from a twin-balance sheet dilemma to an advantage.
  • Public sector banks’ profitability rose to Rs 1.04 lakh crore in 2022-23, triple the amount it was in 2014.
  • Sitharaman credited improved bank performances to initiatives taken by the government since 2014, noting improvements in all principal parameters.
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