FM always makes loud claims: CPI

Leader of Communist Party of India Atul Anjan on Wednesday slammed Finance Minister Arun Jaitley over his recent economic policy statement and asked the Central Government about the results of Goods and Service tax (GST).

Speaking to ANI, Anjan said, "Finance Minister is all the time making loud claims and what is the result? We have seen the result of demonetisation and GST."

Anjan statement came soon after Arun Jaitley vigorously substantiated the robustness of the Indian economy on Tuesday.

Further lashing the government for lending loans to the corporate houses Anjan said, "It is known that this government is giving much more bank lending to the corporate houses, those who are very close and nearer to the BJP and Prime Minister. This way they are trying to develop crony capitalism in this country."

"He (Finance Minister) wants to dismantle the Public Sector Banks, which were the backbone of Indian economy. It was our Public Sector Banks, it was the Public sector Insurance, and it is the Public Sector Undertaking which saved the country from economic holocaust. Today when the economy is in very bad shape, if you want to destroy the public sector banks then what will happen?" he added.

In an apparent attack at the then ruling alliance - the United Progressive Alliance (UPA), the Union Finance Minister Arun Jaitley earlier the day said that the public sector banks, from 2008 to 2014, engaged in indiscriminate lending.

He announced unprecedented PSU banks recapitalisation program of Rs 2.11 lakh crore, out of which Rs. 1.35 lakh crore will come from recap bonds, and rest from markets and budgetary support.

"To improve the lending capacity of the banks, we have announced the recapitalization programme, which is essential to increase public spending on infrastructure, and that expenditure on infrastructure," said Finance Minister at a conference.

Further talking about the job opportunities, as promised by the Centre government Anjan said, "You said you will give employment to two crore people every year, there is no employment, there is joblessness. Those who are already in loss they are thrown out of their jobs. You said you have plenty of money in your banks, why are you not initiating very big plans for giving employment opportunities to young people of this country. Who is stopping you? Please restructure your economic policy.