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UPA gave loans blindly, weakened banking sector: BJP

IANS  |  New Delhi 

The BJP on Wednesday attacked the previous for blindly giving away loans and weakening the banks due to which their losses increased from Rs 18,000 crore to Rs 53,000 crore.

The also said that due to the strictness of the Modi government, for the first time in the country, fugitive offenders were facing the heat.

"is not restricted only to the cleanliness of courtyards but is also about the cleanliness in our economic system," told a press conference here.

The said that after assuming office in 2014, the inherited an extremely

"But the took a wise decision not to bring any such white paper and they responsibly ran the government and brought to only strengthen the economy," Goyal said.

Slamming the previous Congress-led United Progressive Alliance (UPA) government for giving loans without doing fact-check of projects, Goyal said: "The started distributing loans from 2006 and the procedure went on till 2014. The increased from Rs 18,000 crore to Rs 53,000 crore in those years."

Citing the example of Indian Bank, Goyal said: "Same situation of the non-performing assets (NPAs) was prevalent when had come to power. At that time, he brought in transparency and is running in profit.

"Today, we have also brought transparency in the NPA loans and tried to resolve the entire mess that gave us," he said.

The Railway and also said that during the UPA government, a lot of powerful people took loans without taking into account the responsibility that comes along with it.

"It is the which has acted tough with these people and forced them to pay back."

He said that under the government's Fugitive Law, properties of the defaulters are attached.

"Our government implemented the Benami Act. We brought GST instead of 40 different taxes."



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, September 12 2018. 20:54 IST