Demand in economy has to match credit expansion: Finance Secy Rajiv Kumar

We have budgeted Rs 70,000 crore for this year, says Finance Secretary Rajiv Kumar

Finance Secretary Rajiv Kumar talks about the government’s thought process behind the latest merger of public sector banks and how it helps in achieving various objectives, in an interview with Somesh Jha. Edited excerpts:

India’s economic growth stood at a six-year low of 5 per cent in the April-June quarter. Will the slowdown be arrested?

Look at it from two-three different angles. Growth is robust when it comes to the services sector, aggregators in various sectors, fintech, IT [information technology], etc. With more digitisation, we are moving towards higher value addition in businesses showing robust growth. When it comes to sectors such