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UPA gave loans blindly, weakened banking sector: BJP

  •   Wed, Sep 12 2018 09:47:53 PM

New Delhi, Sep 12 (IANS): The BJP on Wednesday attacked the previous UPA government 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 Bharatiya Janata Party (BJP) also said that due to the strictness of the Modi government, for the first time in the country, fugitive offenders were facing the heat.

"Swachh Bharat Mission of Prime Minister Narendra Modi is not restricted only to the cleanliness of courtyards but is also about the cleanliness in our economic system," Union Minister Piyush Goyal told a press conference here.

The BJP leader said that after assuming office in 2014, the Modi government inherited an extremely fragile banking sector.

"But the Prime Minister and Finance Minister Arun Jaitley took a wise decision not to bring any such white paper and they responsibly ran the government and brought sustainable solution 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 UPA government started distributing loans from 2006 and the procedure went on till 2014. The bank losses 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 Atal Bihari Vajpayeeji's government had come to power. At that time, he brought in transparency and Indian Bank is running in profit.

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

The Railway and Coal Minister 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 Modi government 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."
  

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Comment on this article

  • Roshan Patrao, Traffic Warden, Mangalore

    Thu, Sep 13 2018

    Because Congress proved incapable of ruling the country, we gave the reins in BJP's hands. But what has BJP done to curb NPAs in four-and-a-half years? It let Vijay Mallya, NIrav Modi and Mehul Choksi flee the country. It gave all the help it could give to the fugitive Lalit Modi to visit his ailing wife in Portugal knowing very well that he was wanted in India. Now why is it crying foul?

    DisAgree Agree Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Sep 13 2018

    Why is BJP giving business worth Billions of USD to Anil Ambani who has been declared Bankrupt ...

    DisAgree Agree [6] Reply Report Abuse

  • Dinesh Narayan Poojary, Kundapura/Bengaluru

    Thu, Sep 13 2018

    UPA approved loans. BJP approved their RUNAWAY FROM THE COUNTRY. E.g. Vijay Mallya and Lalit Modi.

    DisAgree Agree [9] Reply Report Abuse

  • El En Tea, Mumbai

    Thu, Sep 13 2018

    Vijay Mallya before flee from India met Finance Minster Aurun Jaitley to loof after the King Fisher which made BJP to deliver the above statement just blaming on UPA

    DisAgree Agree [8] Reply Report Abuse

  • Truth Teller, Karnataka

    Thu, Sep 13 2018

    Ok we will believe these BJPees and agree that UPA blindly gave loans from 2006 to 2014 to the tune of Rs. 53000 crores!. Now the thing is, banks are in bad debt to the tune of 750000 crores or more and already written off 250000 crores or more!. The question arises now is, who gave loans of 600000 crores after 2014!?. Because UPA had given only 53000 crores!!. You people are fooling whom!?

    DisAgree [1] Agree [6] Reply Report Abuse

  • Mangalurian, Mangaluru

    Thu, Sep 13 2018

    BJP is committed to providing the Central Government for the next 50 years.

    So, for the next 50 years, be prepared to hear about the reason for BJP's permanent failures: the UPA rule before 2014.

    Is there one thing that BJP Central Government can make work?

    DisAgree Agree [5] Reply Report Abuse

  • Raj, Mangalore

    Thu, Sep 13 2018

    Former RBI governor Rajan gave a list of high profile NPA cases to Modi but Modi took no action. What has Modi and BJP been doing for the last four years to strengthen the banking sector?

    DisAgree Agree [3] Reply Report Abuse

  • prem, moodbidri

    Thu, Sep 13 2018

    Dayaa….
    Jootley says, he never met Mallya, but there are evidences of meeting!
    Jootley daughter Sonali is lawyer for Nirav Modi!
    Fekuji says in businessmen meet,' Mehu lChoksi Bhai mere dost hein'!
    Cooperative Bank presided by Omit Shah does maximum transaction during demonetization!
    BJP not only builds 7 star head quarters, but also offers 100 crore for purchasing MP/MLAs!
    BJP organizes rallies by spending crores of rupees even during demonetizing!
    BJP leaders close relatives and friends business makes millions of profit all of a sudden!

    kuch toh gadbad hai Dayaa…. kuch toh gadbad hai…!!!

    DisAgree Agree [2] Reply Report Abuse

  • Alwyn, Mangalore

    Thu, Sep 13 2018

    BJP already sold India to other countries long back. Now we are slaves. India is in a horrible situation, and pretty soon we all need to eat each other. Hope 2019 BJP will gon to dustbin/mud bin.

    DisAgree Agree [1] Reply Report Abuse

  • Anees, Karkala /Dubai

    Thu, Sep 13 2018

    Bakhwaas bundh karo.....aap logo 4 saal se mazaa lene jeetha diya?...desh ku barbaad kiya .

    DisAgree Agree [1] Reply Report Abuse

  • prem, moodbidri

    Thu, Sep 13 2018

    Bajpards are now digging for excuses, to save their face!

    If UPA paid loan, why did you guys allowed borrower to run away from country???

    DisAgree Agree [2] Reply Report Abuse

  • Joseph F. Gonsalves, Bannur, Puttur / Mangalore

    Wed, Sep 12 2018

    Dear Brhasta Jumla Ponds, which banks are not working without loans.

    In the UPA period and priot to UPA period banks have given loans and recovered loans.

    In your period loans were given and the previous loans were un-checked by your Pettha Government.

    You did not concentrate on recover of loans instead you were busy in demonetisation and foreign tours. As a result al the industries were closed and NPA arose.

    When Dr. Raghuram Rajan advised you in writing about high profile NPA's you never bothered and you were in the Monkey Baath which nobody listened except the Andh Bhakts.

    NOW YOU HAVE TOTALLY DESTROYED INDIA'S ECONOMY.

    KINDLY RESIGN TAKING MORAL AND MISMANAGED RESPONSIBILITY IMMEDIATELY AND ALLOW EDUCATED TO TAKE OVER.

    STOP AND ENOUGH OF YOUR CATTLE CLASS GOVERNANCE.

    DisAgree [1] Agree [24] Reply Report Abuse

  • AMAR NATHAL, MANGALORE

    Thu, Sep 13 2018

    UPA gave loans blindly, weakened banking sector. Since then we don't have a government that is capable of regulating the banks nor economy. Demonetization, Swiss WHITE money, petrol price, Depreciation of Rs, just to mention are still an issue. Chai -Pakoda not enough. Picnic Minister is not the solution

    DisAgree Agree [4] Reply Report Abuse

  • Roshan, Mangaluru

    Wed, Sep 12 2018

    I am not sure, how long people are going to hear these lies after lies from Modi led BJP.

    With around 1.3billion population, there was a debt on each person ranging INR1,300 till 2014. This is to put banks recovering their bad loans from common people, as like today. Congress was rightly blamed and was pushed for crushing defeat.

    Modi led BJP act of super hero claimed they will improve India from what it has become.

    In 2018 if we account same 1.3billion poulation, there is a debt of over INR9800 till 2018. This is not interest on interest. It is simply loan given blindly to some favorites companies, who name figures in worlds top billionaires. Bhakts call it is an act of patriotism and hindutva.

    DisAgree [1] Agree [21] Reply Report Abuse

  • Jenifer, Mangalore

    Wed, Sep 12 2018

    Four years have been passed blaming UPA. Please tell us what your achievements are apart from demonitization and high fuel prices.

    DisAgree [1] Agree [24] Reply Report Abuse

  • Langoolacharya, Belman / Washington,DC

    Wed, Sep 12 2018

    BASHAAN only since 2014...we need action in 2019 ... Union Government minus CONgress/BJP...

    ...JH...

    DisAgree Agree [14] Reply Report Abuse

  • Swamy, Mangalore

    Wed, Sep 12 2018

    But nobody dared to take all the money and leave the country. All the money was in the country and the economy was growing from strength to strength, rupee was much more stronger than US dollar, GDP was growing at 10 + clicks, people were enjoying a very good progress, development and administration without discrimination in personal or public level. Then BJP came and helped these fugitives to leave the country with huge amount of money in exchange for monetary benefit. Will you allow them to leave the country without any benefit to you??????

    DisAgree [1] Agree [26] Reply Report Abuse

  • Rolf, Dubai

    Wed, Sep 12 2018

    Dear cheddi BJP try different game. This is not going to benifit.

    DisAgree [1] Agree [26] Reply Report Abuse


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