Opinion

See how Congress granted loans to crony Industrialists, had all the fun and then Questioned PM Modi when he came to power

It is an open secret that the UPA government was the real ‘Suit-boot ki Sarkar’. There were reports that many businessman made a temporary move to Delhi in 2014, to try and seek benefits from the present Narendra Modi Government. However, they left disappointed. PM Modi understands poverty. Anyone who has experienced poverty will surely understand poverty. The path one chooses depends on what his perspective is.

The UPA Government has often accused the NDA Government of favoring Industrialists. It’s actually the other way around. Vijay Mallya borrowed loans during the UPA regime. The UPA provided loans of Rs 3100 crore to Mallya, despite the poor financial background of his company. Around 25 cases have been initiated against Vijay Mallya under the Modi government. Mallya’s frozen bank accounts were opened under the then UPA Government and given loan.

Was congress helping the Indian farmer, when they sanctioned a loan that amounted to thousands of crores, to an Indian liquor baron whose finances weren’t great?  Even former IPL Boss Lalit Modi was a product of the Congress. Lalit Modi left the country in 2010 amid allegations of Tax evasion, money laundering & proxy ownership linked to the IPL.

 

This is the list of the industrial houses that were given huge loans. Naveen Jindal & Savitri Jindal are prominent Congress leaders that control the Jindal business group. Apart from the numerous scams, this was another area where the Congress favored the corrupt business class over the common man.

While the Modi Government is making constant efforts to bring back Mallya, the Congress continues to question PM Modi. They have a set of irrelevant questions that they always ask, to divert attention. The BJP has responded to the allegations every time. UP Minister Srikant Sharma had given numbers that showed the UPA government giving loans to Ambani & Adani.

Sharma had said that it was the UPA Government that granted loans amounting to 72000 Crore to Adani & loans amounting to 113000 crores to Ambani. If the two are added the UPA granted loans amounting to 185000 crores to Ambani & Adani.

Documents provided suggest that loans worth 36.5 Lakh Crore, granted to various corporates between 2005 & 2013, were waived off during the 2 successive terms of the Sonia Gandhi led UPA government, when Dr Manmohan Singh was the PM.

Simple points can counter the UPA’s accusations on PM Modi. The business houses that owe a large amount of money to the Government were given loans during the UPA rule. None of these business houses were born in the last 3 years. The ratio of Bad loans had increased to 132% from 2005-06 to 2013-14. The Congress like always will offer no explanation.

Source: Indian Express & Economic Times


Tony Joseph

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