Finance Minister Arun Jaitley today asked the banking and financial institutions for a joint action to steer the economy in the right direction. While holding Pre-Budget Consultations with the representatives of Banks and Financial Institutions in New Delhi Mr Jaitley said, slow down of economic growth coupled with high inflationary pressure poses a challenge to the economic environment. During the meeting, various suggestions including recapitalization of public sector banks, dilution of government ownership in public sector banks up to 51 per cent and setting- up of National Asset Management Company for dealing with NPAs of the banks were made. Other suggestions included continuation of interest subvention scheme for agriculture sector, raising of tax benefit limit for health insurance and tax exemption limit under the Income Tax Act. A relook at various provisions of New Companies Bill was also placed before the Minister. Mr Jaitley assured that the issues raised and suggestions made by representatives of Banks and Financial Institutions will be looked into.AIR correspondent reports, there is no doubt that government is determined to take a number of measures to boost economy which was reflected prominently during the two pre budget deliberations of finance minister Arun Jaitley one addressed to the Banker and another to the eminent economists . He received a number of suggestions from the banker's which includes continuation of interest subvention schemes for agriculture sector and tax exemption. The Finance Minister was more vocal during the second half of the meeting and emphasized to evolve a mechanism to bring the economy back on track and follow the path of physical consolidations. However the concrete steps the government is going to take to revive economy will be reflected in the General Budget.