Prime Minister Narendra Modi, addressing the Motion of Thanks to President’s rule in Rajya Sabha, emphasized the significant changes in key sectors like banking, NPAs, and Public Sector Enterprises (PSUs) due to his government’s reforms. He reiterated the NDA government’s commitment to reform, perform, and transform, pointing out the flourishing growth in various sectors post-2014.
Before 2014, over half of India’s population lacked basic banking services, with the privileged having undue influence. PM Modi criticized the flawed policies of the Congress era that led to a dire situation in the banking sector, including high NPAs. Under his leadership, reforms were implemented, loss-making enterprises were merged, and common people were integrated into mainstream banking.
PM Modi highlighted the significant impact of initiatives like the Mudra Yojana, which provided Rs 30 lakh crore in loans to individuals, including women. He also expanded the scope of Women Self-Help Groups (SHGs) and extended direct monetary benefits to 10 crore women. The Prime Minister emphasized the turnaround in the banking sector’s profitability, contrasting it with the UPA era’s challenges.
Referring to Public Sector Undertakings (PSUs), PM Modi debunked the perception of their failure under previous governments, noting the resurgence of entities like LIC, State Bank of India, and HAL. He credited the NDA government’s reforms for transforming PSUs into vital contributors to India’s economic growth. Additionally, PM Modi praised the Pradhan Kisan Samman Nidhi (PM-KISAN) for providing financial support to farmers, empowering them to contribute to the nation’s progress.
