October 29, 2020

On Tuesday, Arun Jaitley pens down a blog and clear the rumor about loan wave off the big defaulters. He wrote, now it’s time for the nation to know the facts regarding this.
Finance Minister stated, people should ask these propagandists, loans were provided on whom pressure and who were lobbied for the proposal. Also asked about the strategy of that government when borrowers were late in paying loans and interest.
The Government didn’t waive off any kind of loans from the defaulters. Even we started proceeding against twelve big defaulters for recovery of 1.75 lakh crore in particular time-bound.
As expected opposition party Congress counter-attack on Finance Minister claims and retorted that he is fooling people. The opposition alleged that Government waives off 1.88 lakhs crore loans of the defaulters who intentionally avert payoff the loans.
Congress spokesperson Abhishek Singhvi put the allegations on BJP for having connivance with the big capitalists and the common man is feeling helpless.
He told reporters, Modi Government consistently helps some selected capitalists by waiving off loans, Non-Performing Assets (NPA) is increasing subsequently. So by the effect bank and Government treasures on back-foot.
Singhvi clearly refuted FM claim and said the publically available evidence is just opposite to this claim. Then why FM is trying to blemish the understanding of 125 crores Indians.
He provided some statics and stated that in 2014-15, BJP 49,018 crore rupees, in 2015-16 57,586 rupees and in 2016-17 1.88 lakh crore rupees waived off and borrowers didn’t pay the loans intentionally.
He also criticized 2.11 lakh crores rupees scheme which announced by FM to boost lending of PSU banks. And said that this scheme doesn’t have any timeline as well as any framework.

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Amit Pilania

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