Congress party has often accused Narendra Modi as being “suit-boot ki sarkar”, “Ambani-Adani ki sarkar” and attacked the PM for providing loans to the business houses. Other opposition parties have also joined together and have been somehow successful in creating the perception of Narendra Modi government being favorable to the corporate houses and indulging in crony capitalism even when it is far from reality. However, the documents released in public domain nail the claim that Modi government is pro-corporate. During the UPA regime (2004-2014), the government granted a loan of Rs 72,000 crore to Adani, while the Ambani group was given loans worth Rs 1,13,000 crore.
“During the UPA regime, Adani was granted loan of Rs 72,000 crore and Ambani group was given loans worth Rs 1,13,000 crore. The process of recovering loans from several corporates, including these two, was initiated only after PM Narendra Modi took over in 2014,” BJP spokesperson Shrikant Sharma said addressing a press conference. Documents provided indicate that loans worth Rs 36.5 lakh crore, granted to various corporates between 2005 and 2013, were waived off during the two successive terms of the Congress-led UPA government under Manmohan Singh. The details are sure to turn the tables on Congress and other opposition parties which claim the Adanis and Ambanis have been favoured by Prime Minister Narendra Modi’s government. “SBI had frozen Vijay Mallya group’s accounts after he failed to repay loans of over Rs 1,450 crore in 2012. However, Mallya was given loans of Rs 1,500 crore. Again it was the BJP government, which started the process of recovery after forming government in 2014 by attaching his properties,” Sharma said.
The BJP spokesperson shared a long list of bank statements and other documents with media to prove that it was the Congress government, which was more into distributing doles to the corporate. He also added that Modi government has been in the recovery mode and doing everything possible to recover the bad loans. On the issue of bad loans, the documents presented indicate that the bad loans increased by 132% in the ten years of UPA government. Watch the entire press conference by Shrikant Sharma, exposing the lies of Congress and other opposition parties.