New Delhi: Prime Minister Narendra Modi, replying to the Motion of Thanks to President’s rule in Rajya Sabha on Thursday, contrasted the drastic change brought in key sectors, including banking, NPAs, Public Sector Enterprises (PSUs), driven by the reforms undertaken by his government.
Reiterating the NDA government’s resolve to “reform, perform and transform”, PM Modi said that a slew of reforms were initiated after 2014, and this resulted in flourishing growth in various sectors from banking to PSUs and brought transformational change in the lives of farmers.
Prime Minister stated that before 2014, more than 50 per cent of India’s population was deprived of basic banking facilities; however, those in influential positions had the banking operations at their feet.
Slamming the “flawed policies” of the Congress rule, he said that the banking sector was staring at a disastrous situation, and NPAs were a big problem when he took over.
He said that previous govts dithered from taking any decisions, but it was under his governance that reforms were brought in, loss-making enterprises were merged, and common people were drawn into the mainstream banking.
“Rs 30 lakh crore loan has been given to common people under Mudra Yojana, and the beneficiaries include women also,” PM Modi informed the House.
He further informed that the ambit of Women Self-Help Groups (SHGs) has been expanded, while 10 crore women have been extended direct monetary benefits in the past decade.
“During the UPA era, the banking system was broken; today, the sector is recording its best profits,” PM Modi stated.
Referring to PSUs in the Congress-era, PM Modi said that there was a common perception that they were meant to fail, incur losses and remain a burden on the exchequer and added that behemoths like LIC, State Bank of India, HAL, which were looked down upon earlier, are realising their full potential today.
He stated that the slew of reforms undertaken by the NDA government has ensured that they become key driver of India’s growth engine.
PM Modi also spoke about how the Pradhan Kisan Samaan Nidhi (PM-KISAN) has ensured a respectful and dignified life for the farmers of the country.
Small and landless farmers have consistently suffered even after seven decades of Independence, but under PM-KISAN, Rs 4 lakh crore have been given to them. PM Modi highlighted and asserted that this has given them the right to dream and contribute to national growth.
(IANS)
