Piyush Goyal says our govt had the power to ask RBI to review the NPA situation of banks and stop the culture of phone banking. He said previously there was pressure on only small businessmen to repay loans but now even defaulting managements of big companies are under pressure to repay loans in time and they have noticed that Bank of India, Bank of Maharashtra and Oriental Bank have come out of the PCA framework and our efforts to clean up the banking system will help others too very soon.
Goyal said “They have recovered Rs 3 lakh crore so far from the banking system clean up, Goyal points out as he moves to the initiatives in the real estate sector”. Furthermore RERA 2016 and Benami Transaction Prohibition Act are helping to bring transparency in real estate. For the financial year 2019-2020 MGNREGA allocation has been set at Rs 60,000 crore. Further Pradhan Mantra Gram Sadak Yojana allocation is set at Rs 19,000 crore, he said, adding, kids will no longer have to walk from home to school and they will now have a bus service there.
He added “The government is committed to providing electricity to every house, where LED will help save Rs 50,000 crore in electricity bills in the next few years”. Moreover farmers with less than 2 hectare land will be given Rs 6,000 per year as direct transfer and farmers owning upto 2 hectares to get Rs 6,000 per year.
