New Delhi, December 13: Prime Minister Narendra Modi on Wednesday attacked the Congress government and said that the Non-Performing Asset (NPA) was the biggest scam of the previous United Progressive Alliance (UPA) Government. Also Read - Rahul Gandhi Slams Modi Government Over Coronavirus Vaccine, Asks 'What Does PM Stand By'
The remarks were made by PM Modi while addressing the 90th FICCI (Federation of Indian Chambers of Commerce and Industry) Anual General Meeting (AGM) in Delhi. Also Read - Delhi Chalo: Rahul Gandhi Slams Modi Government Over Farmers Protest, Fires 'Suit-Boot' Jibe
“The hullabaloo over the NPAs is the biggest liability given to our government by the economists of the previous UPA government. NPA was the biggest scam of the UPA government. The NPA scam was much bigger scam than 2G, Commonwealth, Coal block allocation scams,” PM Modi said at the meeting. Also Read - COVID-19: BJP MLA Kiran Maheshwari Passes Away, PM Modi Condoles Demise
PM Modi also questioned the silence of the organisations like FICCI over the issue.
“When UPA Government was in power, it had given loans worth lakhs of crore to few big industrialists by putting pressure on the banks. When people were quite over the scam then did any organisation try to awake them? What were organisations like FICCI doing when few people in previous government were putting pressure on the banks to provide loans to few select businessmen? asked PM Modi.
PM Modi said to the federation that everyone knew what wrong was going on but nobody objected to it.
“Banks knew, people in previous government knew, industries knew, organisations related to the market knew about the wrongdoing,” he said.
Earlier in February, Union Finance Minister Arun Jaitley informed Lok Sabha that the pile of NPAs in the banking system at present was a legacy problem and most large ticket size loans that have turned NPA were given to big companies between 2007 and 2009.