Name loan waiver beneficiaries: Congress to govt | WeForNews | Latest News, Blogs Name loan waiver beneficiaries: Cong to govt – WeForNews | Latest News, Blogs
Connect with us


Name loan waiver beneficiaries: Cong to govt

“Despite the loan waiver of about Rs 8 lakh crore, it was not mentioned whose loans have been waived? Why this privacy,” Shrinate said.



Supriya Shrinate

New Delhi, Feb 22 : Blaming the Narendra Modi government for the state of economy, the Congress said, here on Saturday, without improvement in the banking sector the country’s economic condition couldn’t be ameliorated.

Addressing the media at the party headquarters, Congress spokesperson Supriya Shrinate asked the government to name the corporates whose loans had been waived in the past six years and demanded a high-level panel be set up to examine the process of loan waiver.

“The government should make public the names of those whose debt has been waived, a high-level committee should be constituted to examine the process of loan waiver and it should also assess financial viability and potential of the banking sector,” Shrinate said.

The demand has come a day after global banking group Credit Suisse said the banking sector’s impaired assets remained at Rs 16.88 lakh crore — 15.7 per cent of the advances — as of December 2019, despite a decline in gross non-performing assets (NPAs) to Rs 9.1 lakh crore — 9.2 per cent of the advances.

Shrinate said the Congress had been raising economic issues with the hope that someday it would shake the government out of slumber and “denial” and make it understand the truth of economic recession.

“According to the recent reports, the banking problem is affecting India badly. Until the banks improve, India’s economic plight is almost impossible to solve,” said the Congress leader.

“As on date, about 16 per cent of loans has become stressed assets, which is Rs 16.88 lakh crore. These are the figures for December 2019. It was 12 per cent in 2017,” she said referring to the report.

In the December quarter, new NPAs started to form and at an increased pace in sectors like telecom, real estate, MSMEs and automobile, she said.

She said the government was saying NPAs had declined from 11.7 per cent to 9.2 per cent. “It should have been good news, the economy should have improved. But has it,” the Congress leader said.

“The truth is different. Banks are actually waiving loans of big capitalists,” she said, adding since the BJP came to power in 2014, around Rs 8 lakh crore debt had been waived. The government should have recovered it from them, she said.

“Despite the loan waiver of about Rs 8 lakh crore, it was not mentioned whose loans have been waived? Why this privacy,” Shrinate said.

“Lending by banks is an indicator of a good economy. But when the demand declines, it means there is an economic slowdown. The demand today is down at 12 per cent in private banks and 4 per cent in government banks,” she said.

Shrinate said, “Whenever the BJP government is questioned on the banking sector’s condition, it blames the previous government. But repeated lying doesn’t change the truth. What it has done for banking reforms in the past six years.”


What we planned to do in 5 years, we did in 4: Kerala CM




Pinarayi Vijayan

Thiruvananthapuram, May 25 (IANS) Putting up a sense of happiness in accomplishments, Kerala Chief Minister Pinarayi Vijayan said his government’s four-year journey has been eventful and expressed satisfaction that he was able to give to the people what was promised in the election manifesto. However, the Congress-led opposition dismissed this saying Kerala has been destroyed in all respects during Vijayan’s rule.

“What we planned to do in 5 years, we could do in 4 years,” said Vijayan while addressing the media on completion of four years in office. It was on this day in 2016 that Vijayan and his team were sworn in.

“We were able to achieve all this even when successive disasters hit the state — starting from the Ockhi waves in 2017, followed by Nipah in 2018 and then the worst ever floods in 2018, followed by another flood in 2019. Then came Covid-19. Everywhere due to our steadfast determination we were able to fight all these disasters and moved forward. In our journey we received all round help from Keralaites all over the world,” said Vijayan.

He said post Covid, Kerala by now has achieved a tag of being the safest place in all respects and many companies are now looking forward to come to Kerala.

“We have come out with a very favourable policy for investors, where in a week’s time, we will give such investors the license to start their work,” said Vijayan and added, “we are getting in touch with various Indian Embassies to make things easy for investors who are looking to invest in Kerala.”

“Various committees are soon to be set up where nominees of foreign trade bodies (America, Japan, South Korea, Germany, Singapore) would be members. This would help in speeding up things for investors,” added Vijayan.

He also pointed out that unlike ‘others’, his party’s election manifesto was one which is meant to be achieved and not meant to be one, which is a document of promises, which will never be accomplished.

He said when the current fiscal began, we knew that there would be a 15 per cent hike in spending and for that we expected Centre to come to our help, but it did not happen.

“So we decided to rework our strategy and decided to re-energise KIFBI, where we raised Rs 50,000 crore outside of the budget and by now, we have given the green signal to Rs 54,291 crore worth of projects through it,” Vijayan said.

He said one of the biggest achievements of his government is the formation of the Kerala Bank. “Despite lots of negative vibes from several quarters, we have set it up and it is now the second biggest bank in our state,” said Vijayan.

On the state public sector enterprises, he said, they began with a loss of Rs 139 crore. “In the first year, the total losses were reduced to Rs 71 crore and at the end of the previous fiscal (2019-20), we had a working profit of Rs 56 crore, which is a handsome achievement,” added Vijayan.

On the education front, he said, compared to the earlier situations, five lakh students sought admissions to state government schools. “In 4,752 schools, infrastructure was improved, 14,000 schools got connected to broadband and 45,000 classrooms turned hi-tech,” said Vijayan.

Another achievement under him he said was fresh investment in the Startup which jumped from Rs 2.20 crore to Rs 875 crore.

Lauding police force, Vijayan said, “The police here have done a good job when it resolved numerous murder mysteries. And when it came to tackling Covid, they did a great work and it continues.”

He said another feature of his government has been building 2,19,154 homes for the homeless.

“We planned to give 2 lakh title deeds to those who did not have land and by now 1.43 lakh people have been given and very soon another 35,000 more would be given,” added Vijayan.

He said that Covid was a setback to the smooth progress of the state, but so far this pandemic has been handled well and the government will continue to tackle with strengths.

“The number of cases was down, but on expected lines, with the arrival of a good number of our people from abroad and within the country, the number of cases has now started to go up. This was on expected lines and we are fully geared up to deal with. If one looks into statistics, now on an average everyday there are 39 cases, but I am not going into the mathematical analysis of this,” added Vijayan.

But the opposition Congress was not impressed. Its top leaders staged a protest in front of the State Secretariat and described Vijayan’s tenure as the most disappointing one and had it not been for Covid, today would have been a day when extravagant celebrations would have been seen.

State Congress president Mulappally Ramachandran said when people in Kerala are suffering during Covid times, Vijayan has hiked bus fares and electricity charges.

“Never before has Kerala seen such an extravagant government and as a result the public debt has risen from Rs 1.57 lakh crore to Rs 2.50 lakh crore. This government has been an abject failure on all fronts,” said Ramachandran.

Leader of opposition Ramesh Chennithala said Vijayan’s tenure would go down as a government which engaged in scientific corruption.

“We have seen a few corrupt deals that were exposed by us. Today he is riding under Covid and feels none knows what’s happening in Kerala. With just one more year to go, Kerala is presently neck deep in debts and this is going to be huge burden for the next government. The only thing that is happening here is a blatant PR exercise and the figures of a successful public sector enterprise are all a bluff. The re-build Kerala initiative following the 2018 floods is nothing but a hype and nothing has happened. This Vijayan government would go down as the one which has taken Kerala backwards in all respects,” said Chennithala.

Continue Reading


Permit only bonafide migrants: Raj Thackeray to Maha govt




Raj Thackeray-wefornews

Mumbai, May 25 (IANS) Maharashtra Navnirman Sena President Raj Thackeray on Monday demanded that in future, the state government must permit entry only to bonafide migrants from other states.

He said that henceforth, when migrants enter the state, they must be registered, and their full personal details and identification papers should be submitted to the police.

“Only if these requirements are met with diligently, will they (migrants) be allowed to enter Maharashtra. A strict adherence to needs to be followed,” Thackeray said.

His comments came in response to a reported statement by Uttar Pradesh Chief Minister Yogi Aditynath that if services of people from his state are required, then the prior permission of the Uttar Pradesh government would be mandatory.

“If such is the case, then any migrant entering Maharashtra too, would need to take permissions from us, the Maharashtra government and the state police. The Maharashtra government needs to look into this matter seriously,” urged Thackeray.

It may be recalled that the then two-year old MNS shot into the limelight in 2008 by a series of agitations targeting migrants from Uttar Pradesh, Bihar and other states for several months, leading to a massive social-political furore, and subsequently court cases lodged against Thackeray and others.

Around 14 years later, the party’s first major political issueAhas been willy-nilly hijacked by an invisible force – the Coronavirus – which succeeded in driving away more migrants from the state than the MNS could ever hope to achieve.

According to rough estimates, over a million migrants have left Maharashtra in the past over two months by autorickshaws, taxis, buses, trains and many by walking, with the largest numbers from the prosperous industrial-commercial belt of Mumbai and Pune metropolitan regions.

Continue Reading


Two corona patients die, J&K death toll reaches 23




Srinagar, May 25 (IANS) Two COVID-19 patients died on Monday in Jammu and Kashmir, raising the death toll to 23 in the Union Territory and the numbers of the affected persons reached 1,621.

Doctors said a 65-year old woman belonging to the Kulgam district was admitted to the S.M.H.S. Hospital in Srinagar on May 22 with bilateral pneumonia.

“She died on May 23rd and her body was kept at the mortuary.

“Her test report came today. She had tested positive for COVID-19”, doctors confirmed at the hospital.

Another 63-year old patient died in a Jammu hospital on Sunday.

“The samples of the deceased had been sent for testing a few days back. The report was received yesterday evening. He has tested positive. He had co-morbidities”, doctors said at the Jammu hospital on Monday.

With this, the number of deaths due to COVID-19 has gone up to 23 in J&K.

So far, 1,621 have tested positive in the union territory, out of whom 809 have completely recovered.

Continue Reading

Most Popular