Millennium Post

Govt waived loans of capitalist friends, alleges Priyanka

New Delhi: Congress leader Priyanka Gandhi Vadra on Sunday alleged that the BJP-led government waived loans, amounting to about Rs eight lakh crore, of Prime Minister Narendra Modi's "capitalist friends" and asked why the dispensation was not making the names of the beneficiaries public.

Her attack on the government came a day after the Congress demanded that a high-level panel be set up to examine the process of loan waiver.

"The BJP government has waived loans worth Rs 8 lakh crore of capitalist friends of Modi ji. Why is the government which claims of making the names of the people having black money public is not making the names of these people public? By what process were their debts waived?" Priyanka Gandhi said in a tweet.

No immediate reaction was available from either the government or the BJP.

"When the farmers of our country are burdened with debt, then under which policy did the BJP forgive the debts of its rich friends?" the Congress general secretary asked.

The government cannot avoid these questions, Priyanka Gandhi said. On Saturday, Congress chief spokesperson Randeep Surjewala had cited a report by global financial services company Credit Suisse to level the allegations against the government.

The total impaired assets of the banking sector have remained at Rs 16,88,600 crore or 15.7 per cent of the total advances of banks as of December 2019, despite a decline in gross non-performing assets (NPAs) to Rs 9,10,800 crore or 9.2 per cent of the advances, media reports had said citing the Credit Suisse report.

Impaired assets of banks include both gross NPAs - loans that are due for repayment after 90 days - and NPAs written off by lenders. Total write-offs since FY 2014 have amounted to Rs 7,77,800 crore or 7.3 per cent of the total bank advances, the media report said citing data.

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