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Let’s talk about freebies to big corporates: Congress

“When will there be a discussion on bank loan waivers to big corporates and the decrease in corporate taxes?,” asked Congress spokesperson Gaurav Vallabh

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Prime Minister Narendra Modi

Prime Minister Narendra Modi

The “government’s rich friends” are getting ‘gajak’ through tax reliefs, write-offs and exemptions worth crores while the poor are getting only small assistance as ‘revris’, the Congress alleged on Friday targeting Prime Minister Narendra Modi. “When will there be a discussion on bank loan waivers to big corporates and the decrease in corporate taxes?,” asked Congress spokesperson Gaurav Vallabh.

Of the Rs 9.92 lakh crore loan written off by banks in the past five years, Rs 7.27 lakh crore is the share of public sector banks, he told reporters. The government, he added, has admitted in Parliament that only Rs 1.03 lakh crore was recovered of the amount written off by it. Assuming that the recovery from the written-off loan will increase to 20 percent in the coming time, public sector banks have not recovered the loan of Rs 5.8 lakh crore, Vallabh said.

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