India, Politics

Finance minister always makes loud claims, says CPI

The leader of Communist Party of India, Atul Anjan on Wednesday slammed finance minister, Arun Jaitley over his economic policy speech and asked the government about the results of Goods and Service tax (GST).

“Finance Minister is all the time making loud claims and what is the result? We have seen the result of demonetisation and GST,” Anjan told ANI. Anjan statement came soon after Jaitley strongly substantiated the strength of the Indian economy.

Lashing out the government for lending loans to the corporates, Anjan said, “It is known that this government is giving much more bank lending to the corporate houses, those who are very close and nearer to the BJP and Prime Minister. This way they are trying to develop crony capitalism in this country.”

“He (Finance Minister) wants to dismantle the Public Sector Banks, which was the backbone of Indian economy. It was our Public Sector Banks, it was the Public sector Insurance, and it is the Public Sector Undertaking which saved the country from the economic holocaust. Today when the economy is in very bad shape if you want to destroy the public sector banks then what will happen?” he added.

The union finance minister, Arun Jaitley in an apparent attack at the United Progressive Alliance (UPA), said that the public sector banks, from 2008 to 2014, engaged in indiscriminate lending. “To improve the lending capacity of the banks, we have announced the recapitalization programme, which is essential to increase public spending on infrastructure, and that expenditure on infrastructure,” said Finance Minister at a conference.

Latest Update