PSU banks to raise Rs 1.1 lakh cr to meet funding needs: FM

April-June indirect tax receipts up 37% on year, Jaitley said in the Parliament

The country's state-run banks will raise Rs 1.1 lakh crore from market in next few years to meet their funding requirements, Finance Minister Arun Jaitley told lawmakers in parliament on Wednesday.

The finance ministry estimates debt-laden banks will need capital infusion of about $28 billion over four years.

Indirect tax receipts grew 37 percent in the April-June quarter over last year, he added.

Jaitley also said the government will spend more on building roads if federal revenues rise.