Bank loans

AAP flays bank loan waiver center for failing companies

Lashing out at the Union government for waiving Rs 10 lakh crore loans from companies that have defrauded banks over the past five years, the Aam Admi party said on Wednesday it exposed its double standard and its “anti-poor” position.

Addressing a press conference here, the party’s chief spokesman, Malwinder Singh Kang, said that at a time of steadily rising inflation rate in the country, the Union government led by the BJP forfeited corporate lending instead of providing financial aid to the poverty stricken common man. and farmers.

He said it is shocking that the Modi government has waived loan of Rs 7,110 crore from runaway diamond dealer Mehul Choksi’s Gitanjali Gems company and Rs 5,879 crore from Era Infra Engineering along with many other big companies failing.

The central government, however, is showing a nonchalant attitude in forgoing the farmers’ loan, Kang added. Kang said that to ease the financial burden on farmers in Punjab, the AAP government led by Chief Minister Bhagwant Mann announced that the amount owed would be Sugarfed sugar cane growers amount to Rs.195.60 crores.

He said the state government also decided to cancel all FIRs registered against farmers during the farm unrest. On the contrary, the Center government has failed to deliver on its promises to farmers, including MSP insurance and loan forgiveness. He also condemned the Central government’s decision to levy GST on Sarai (guest house) for pilgrims visiting the Golden Temple in Amritsar.