NEW DELHI, Nov 30: Countering the claims by Finance Minister Arun Jaitley that the Government has not waived any loans of big NPA defaulters, the Congress on Thursday charged Prime Minister Narendra Modi of benefitting a ‘select group of cronies’ in the country by waiving off their loans.
The party said that the PM was bent on establishing the Gujarat ‘suit-boot ki sarkar’ model in the country. Talking to reporters here, AICC spokesperson Abhishek Manu Singhvi said, ‘’even as Finance Minister, Arun Jaitley brazenly and flagrantly lied to the nation that his “Government has not waived any loans of big NPA defaulters,” the evidence in public domain is contrary to his boastful claims.”
“The Modi Government has continuously and constantly benefitted a select group of cronies by waiving off their loans, even though the NPAs in the banks are piling up, thus putting the bank deposits and the state’s exchequer at risk.
Last month the Chairman of India’s largest public sector bank, State Bank of India, referring to the bankruptcy ordinance had said that “I am willing to take a haircut but not go bald!” This effectively means and that is on record that they can forgo part of NPA’s but not the complete outstanding loan.’’
Mr Singhvi alleged that top 50 corporates owe Rs 8.35 lakh crores to the banks. ‘’Out of those, three top Gujarat based companies ? Reliance (Anil Ambani Group), Adani and Essar owe ? Rs 3 lakh cror.
In the past, the BJP Government had already waived off loans of willful defaulters worth Rs 1,88,287 crores in last 3 years. In contrast, loans of farmers that were waived off by the BJP in Uttar Pradesh and other states included waivers of paltry amounts as low as RS 1,’’ Mr Singhvi said.
Mr Singh accused the NDA Government of benefitting the defaulters with defence contracts rather that declaring them as NPAs.
‘’We would like to ask the Finance Minister, Arun Jaitley, that far from declaring it as NPAs, on the contrary you are trying to help the defaulter with further defense contracts like the Rafale Deal. Why?”
If these were legacies of UPA as you are adapt at passing on your deficiencies on someone else. What has prevented you to declare this liability of Rs 45,000 crores as an NPA, rather than giving them an offset contract worth Rs 30,000 crores in the Rafale deal?’’he said.
Charging the Modi Government with providing benefits to the industrialists at the cost of the farmers, Mr Singhvi said, ‘’the BJP Government is so busy in providing benefit to its friends in the corporate world that they have forgotten the difference between ‘Majboor and ‘majboot’.
In reality, it is the industrialist friends of Mr Modi who are ‘majboot’ (strong) while the farmers, youth and the middle class is ‘majboor’ (helpless).’’
The comments by the Congress came after the party Vice President Rahul Gandhi, attacking Prime Minister Modi and the BJP on the increase in the debt burden on Gujarat from Rs 9,183 crores in 1995 to Rs 2,41,000 crores in 2017 (22 years of BJP rule), asked why should the people of Gujarat pay for the BJP Government’s Financial mismanagement and publicity.
Posing to PM Modi the second in the series of questions to be raised by him in run-up to the Gujarat polls, Rahul, in his Tweet, said, ‘’Taking an account of 22 years.
The second question is the PM on the affairs of Gujarat. The debt on Gujarat in 1995 was Rs 9,183 crore. In 2017, it was Rs 2, 41,000 crore. This means Rs 37,000 debt on every Gujarati. Why should people of Gujarat pay for your financial mismanagement and publicity? ‘’ From Wednesday, the Congress Vice President Rahul Gandhi has been raising one question to the PM every day on the state of affairs in Gujarat.
The Congress has said that the series of questions, to be raised in the run up to the Gujarat polls were aimed at highlighting the fact that under the BJP rule the income disparities between the rich and poor have risen to record levels. (UNI)
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