KVP relaunch part of Modi Govt's reform initiatives: BJP

BJP today said the relaunch of Kisan Vikas Patra scheme was part of the many economic reform measures initiated by the Narendra Modi government aimed at propelling savings rate and investments which had gone down drastically during the erstwhile UPA regime.
BJP also hit out at the Congress for promoting generation of black money and taking no effective measures to check the menace both in India and abroad.
"It is unfortunate that the issue-less Congress party which has no public following is viewing the Kisan Vikas Patra scheme as a mode for generation of black money. A lot of black money was generated during the Congress regime but it took no step to check it and bring it back from abroad," BJP national secretary Shrikant Sharma said in a statement here.

"Of late, many Congress leaders including Abhishek Singhvi were embroiled in alleged generation of black money and corruption. It views even savings schemes as one that would generate black money," Sharma said.
He said the intention of the NDA government is clear and it has taken measures to propel growth through increased savings and investment. The BJP leader also cited the raise in PPF saving limit from Rs 1 lakh to Rs 1.5 lakh per annum and a new scheme for promotion of education and marriage of girls.
"But the thoughtless Congress party out of political enmity is finding fault with public welfare measures and is indulging in false propaganda. The public has seen Congress and has punished it and the nation is now on the path of speedy progress," he said, adding Congress is devoid of issues and is trying to mislead public by raising non-issues.

Sharma said the government has taken all safeguards to prevent any generation of black money through reintroduction of Kisan Vikas Patras by adding the element of KYC. He said the KVPs will give 8.7 per cent returns per annum and prevent the poor and innocent people from being lured in fraudulent ponzi schemes like the Saradha chit fund.
He said the KVP scheme will help promote investment and saving rate which had gone down from 36 per cent to 30 per cent during the Congress regime.