Greed for power overrode national interest under previous govt, destroyed banking system: PM Modi
New Delhi (PTI): Prime Minister Narendra Modi said on Saturday that greed for power overrode national interest during the UPA government, wreaking havoc on the banking sector, but his dispensation has nursed it back to good financial health.
Addressing a Rozgar Mela, Modi took an apparent swipe at the Gandhi family, saying a few powerful politicians close to a particular family would get loans of thousands of crores of rupees to their favourites by calling up banks and those loans were never meant to be returned.
He said that the "phone banking" scam was one of the biggest scams of the previous government as it broke the back of the banking system.
Phone banking may be a common practise now but its idea was different for the government which was there nine years ago as it was not meant for the common citizen, Modi said.
He also said that India is now among the countries with the strongest banking sectors following a series of measures taken by his government.
Addressing a gathering of recruits after giving appointment letters to over 70,000 of them virtually, Modi noted that a large number of them have been employed in the banking sector as he highlighted how it was "destroyed" under the previous Congress-led dispensation before his government took corrective measures.
The UPA was in power during 2004-14.
His government, Modi asserted, took several measures, including strengthening the management of banks, merging small banks and injecting professionalism, to help the sector.
Public sector banks were earlier known for losses running into thousands of crores of rupees and non-performing assets (NPAs), but now they are known for record profits, the prime minister said.
He also praised banking sector employees for their hardwork and commitment to serve people and execute various government schemes to help the poor and unorganised sectors through loans under the 'Mudra' scheme and to support women self-help groups.
Modi said India has emerged as a centre of global trust and attraction and added that the country has to make full use of it. Opportunities are increasing in various fields, he said.
India is now counted among the countries with the strongest banking sector, he said, adding that it was not the case nine years back.
"There are many examples of the destruction which is caused when the greed for power overrides national interest. Our banking sector has suffered this destruction under the previous government," he told the young recruits.
Loans given to favourites were never really repaid during those times and one loan was sanctioned after another to clear previous dues on paper, Modi said.
By laws like the Insolvency and Bankruptcy Code, banks were protected from NPAs while tough action against those accused of swindling banks, including attachments of their properties, was also taken, he said.
Modi said his government has also insured bank deposits up to Rs 5 lakh, ensuring the safety of more than 99 per cent of account holders.
Addressing the gathering, the prime minister said it is not only a memorable day for the young recruits but also a historic day for the nation as today marks the day when the 'Tiranga' was adopted in its current form by the Constituent Assembly for the first time in 1947.
Noting that the next 25 years are crucial for the recruits and the nation as it charts its path to become a developed country, he highlighted the rise of India from the 10th largest global economy to the 5th largest under his government.
Most experts are of the view that India will become the third biggest economy in a few years and it will be a monumental achievement, he added.
It will give rise to employment opportunities in every sector and also boost the income of the common citizens, Modi said.
He cited a recent NITI Aayog report that said 13 crore Indians were brought above the poverty line in the last five years and lauded the hardwork of government servants in implementing welfare measures such as building pucca houses and toilets, opening Jan Dhan accounts and providing electricity connections to the poor.
"This success shows if we increase the efforts to remove poverty from India, then it can be completely eliminated . And certainly, every government employee has a big role in this," he said.
Modi said the expansion of the neo-middle class is creating new job opportunities, with their growing demand and aspirations driving the manufacturing sector.
With the percentage of ageing population rising and of working age population declining in many country, the world is looking at India's talent, he said, highlighting new opportunities for its young citizens.
His government has focussed on skill upgradation of the young population, with the number of professional education institutes rising.
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Several organisations oppose proposal of changing Mount Abu's name
Jaipur, May 6 (PTI): Protests against a proposal to change the name of Mount Abu to 'Aburaj Teerth' and banning non-vegetarian food and alcohol in Rajasthan’s only hill station are mounting with locals saying it will severely impact the town's economy.
A letter from the department of local self government to the nagar parishad commissioner on April 25 had sought a "factual comment" of the commissioner regarding renaming Mount Abu as 'Aburaj Teerth' and prohibiting meat and liquor consumption in the open.
Looking at the religious significance of Mount Abu, a proposal to change the name to 'Aburaj Teerth' was passed in the board meeting of the Nagar Parishad in October last year. The proposal was sent to the state government, where it is pending.
After this, several MLAs of the ruling party wrote letters to Chief Minister Bhajanlal Sharma to change Mount Abu's name due to its religious significance and ban liquor and meat consumption in the open.
Local businessmen argue that Mount Abu is known worldwide by this name and changing the name will create confusion. Moreover, prohibiting non-veg food and liquor consumption will drastically reduce the number of tourists, they argued.
Twenty-three organisations, including Mount Abu Hotel Association, Laghu Vyapar Sangh, Sindhi Seva Samaj, Valmiki Samaj, Muslim Auquaf Committee, and Nakki Lake Vyapar Sansthan, handed over a memorandum, addressed to the chief minister to Sub Divisional Officer Dr Anshu Priya on Monday.
The SDM said that the proposal is pending at the state government level.
Saurabh Gangadia, secretary of Mount Abu Hotel Association, said that nearly five to six thousand tourists visit Mount Abu daily, and most of them come from neighbouring Gujarat, which is a dry state.
"The entire economy of Mount Abu is run on tourism activities and such a move to declare Mount Abu a 'Teerth' and prohibiting liquor and meat will destroy the economy," he said.
He claimed that nearly 15000 people were directly or indirectly associated with tourism-related activities in Mount Abu and if the number of tourists drops, it will have a negative impact on their livelihood.
"With a sharp decline in tourists, there will be an increase in unemployment and migration and business units will shut down," Dinesh Mali, secretary of Street Vendors Committee, said.
"There is absolutely no need to change the name and take such steps which have the potential of causing great harm to the economy and its people," he added.
The local business stakeholders said that the name 'Mount Abu' is internationally established and it features in global travel books, Google Maps, Wikipedia, tourism portals, travel advisories, foreign tour packages, international directories and academic texts.
According to the tourism department, the history of Mount Abu can be traced back to the Puranas. Known as "Arbudaranya" or "the forest of Arbhuda" in the Puranic Age, Mount Abu is described to have served as a retreat for sage Vashistha.
A popular mythological story associated with Mount Abu mentions a serpent named Arbhuda, who had saved the life of Nandi, Lord Shiva's mount, here.
