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Nirmala Sitharaman: Nirmala Sitharaman clarified that the government has not waived any fugitive loan, but it has been put into a butt account and the recovery process is going on.
Nirmala sitharaman: Action will continue against those who flee abroad by taking a loan of crores of rupees from Indian banks and they will not be spared under any circumstances. Finance Minister Nirmala Sitharaman made this clear in the Rajya Sabha on Wednesday. He also dismissed the allegations of the opposition, in which it was being said that the government has forgiven the loan of these fugitives. The Finance Minister said that till now property worth Rs 749.83 crore has been seized in such cases.
Improves in banks’ status, decline in NPA
The Finance Minister said that in 2014 the banking system of the country was under pressure and India was counted among weak economies. But the Modi government made many significant reforms, which strengthened the banking sector. He said that in September 2024, the NPA of scheduled commercial banks has come down to a minimum level of 2.5 percent. He said that public sector banks made a profit of Rs 1.41 lakh crore in the last financial year, which is the biggest profit ever. He hoped that banks and height would touch in the current financial year.
Loan is not forgiven, recovery efforts continue
Nirmala Sitharaman clarified that the government has not waived any fugitive loan, but has been put into a butt account and the process of recovery is going on. He informed that the Enforcement Directorate has so far seized assets worth about Rs 22,280 crore and returned the valid contenders by the court order.
Fugitive economic criminals declared nine people till 31 December 2024
The Finance Minister said that by 31 December 2024 nine people were declared a fugitive economic criminal and their assets worth Rs 749.83 crore have been seized. He said that the government will not allow any economic criminal to escape and action in this direction will continue.
A huge decrease in banks’ NPAs
Sitharaman said that due to the efforts of the Modi government, the gross NPA ratio of public banks has come down to 2.85 percent in December 2024, which was 14.58 percent in March 2018. He informed that small farmers have benefited the most from the government’s direct immunity policy.
Modi government implemented corruption -free schemes
Taking a dig at the Congress, the Finance Minister said that during his government’s reign, there was a large -scale corruption in MNREGA, Kisan loan waiver scheme and food security schemes. But the Modi government implemented these schemes with full seriousness and transparency, which directly benefited the beneficiaries.
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