Economy to look up from H2: FM

New Delhi, Sept. 26: Finance Minister Nirmala Sitharaman on Thursday hoped the economy will start looking up in the second half of the current financial year as consumption rises and banks increase their lending operations.

Weeks after meeting public sector bankers, the Finance Minister met heads of leading private sector lenders and financial institutions.

They categorically told the FM that there is no liquidity crisis and there is enough demand for loans.

To cash in on the festive demand, Sitharaman urged the lenders to join the outreach programme in 400 districts to push lending and boost consumption.

After meeting the top management of 29 leading private sector financial institutions, she said, "On the whole, it was a toniclike meeting where I have heard a lot of good things, positive things and not one voice said there is a concern, there is a shortfall of demand but to my surprise...None Nirmala Sitharaman

of them voiced liquidity concerns."

She said economic slowdown seems to have bottomed out and the coming festive season will help the economy start looking up.

"Things are looking forward and upward. That is why I started by saying it was like tonic for me and I hope this message goes across...The message that I get from this meeting today is consumption is happening," the minister added.

"From what has emerged today I think demand will get back and motivate our economy to move at a faster rate... In the coming half year things will have to look up...," she added.

—PTI