BJP says people will give vote of confidence to it in 2024
«defaulter kaal» jibe at the government, saying it is fascinating that the very architects of India's NPA crisis have the audacity to question the resolution of a disaster they engineered. Congress president Mallikarjun Kharge had earlier taken a swipe at Prime Minister Narendra Modi over the reported rise in dues from wilful defaulters, alleging that his government is taking India's economy to «defaulter kaal».
BJP's I-T department head Amit Malviya refuted the charge and said on X that it is due to the government's efforts that every public sector bank is now in profit.
He said former RBI governor Raghuram Rajan, an «ally» of the Congress, was unambiguous in pointing out that many of the problematic loans originated during the Congress-led United Progressive Alliance (UPA) era between 2004 and 2014.
Replying to Kharge's assertion that people will respond in the 2024 Lok Sabha polls to the government's assault on economy, Malviya said, «People of India will indeed reply, but with a vote of confidence for the BJP that took decisive actions, rather than the Congress and its alliance partners, that created the mess.»
Banks were under tremendous political pressure to lend and they were so reckless that they lent hundreds and thousands of crores to unworthy companies and businessmen close to the Congress, he alleged.
These bad loans were not «recognised» and were kept hidden using various accounting trickery, and were discovered only after the Asset Quality Review (AQR) was initiated in 2015 by the Modi government, he said.
