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Jaitley blames UPA Govt for NPAs

Jaitley blames UPA Govt for NPAs

New Delhi, Feb 9 (UNI) Finance Minister Arun Jaitley today blamed the UPA government for creation of Non Performing Assets (NPA) in the banking sector as the loans to selected few companies were given on the behest of North Block. Replying to the debate on General Budget 2017-18 in the Lok Sabha, the Finance Minister said the banking sector should not be blamed for the NPA creation, it was the over management of the banking by the UPA government which is responsible for all the mess. Replying to the criticism on ever increasing NPA in the banking sector, he said, 'After May 26, 2014, no bank gave any loan to those who fled away with the loans given to them. Still the NPA is increased as the interest on it is being added on every year.' Describing the criticism on NPAs, the Finance Minister said it’s a self goal for UPA. 'The increase in NPAs is also due to unearthing of the other loans which were kept under the carpet and our government is bringing those in records,' he said. He said, 'We inherited the legacy of bad debts and NPAs. The sin was done by the UPA government for which we are being blamed.' Mr Jaitley said one of the major lacuna in the previous regime was to allow "discretionary" policies in running the economy of the country. The Finance Minister said the financial management under NDA government was better than UPA's and this resulted in more expenditure in actual terms. More UNI ADP AE 1722

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