Defining DeMo for every class, RaGa slams PM ECONOMIC FRONT

Rahul Gandhi hit out at the Modi government citing RBI data which stated that public sector banks had written- off over seven times the recovery amount in the last four years

Congress President Mr. Rahul Gandhi once again hit out at the center over increase in bad loans. In a tweet Mr. Gandhi said, “Modi’s India — For Common Man: Notebandi- line up and put your money in banks. All your details into Aadhar. You can't use your own money. For Crony capitalists: Notebandi- convert all your black money to white. Let's write off 3.16 lakh crore using common man's money.” Congress President also hit out at the BJP- led NDA government over a media report which, citing Reserve Bank of India ( RBI) data, stated that public sector banks had written- off over seven times the recovery amount in the last four years.

The media report stated that between April 2014 and April 2018, the country's 21 state- owned banks ended up writing off ` 3,16,500 crore of loans even as they recovered ` 44,900 crore written off on a cumulative basis or less than one- seventh the write- off amount.

The Congress has been attacking the government for it calls ‘ serving the interests of a few capitalist friends of the Prime Minister’. Earlier on Mr. Gandhi had termed the present central government as ‘ suit boot ki sarkar’. The Congress chief had also alleged that Prime Minister Mr. Narendra Modi is rescuing the group via public savings in Life Insurance Corporation ( LIC) and the State Bank of India ( SBI). The IL& FS Group is a vast conglomerate with a complex corporate structure that funds infrastructure projects across the country. Congress has aggressively tried to corner the government on several fronts in the past few months. The party attacked the government over Rafale fighter jet deal.