Prime Minister Narendra Modi used project hismelf as soon of poor. Now, he can be seen as PM of industrialists and businessmen. This is an apt example of crony capitalism.
He has been linked with industrialists like Gautam Adani and Mukesh Ambani. However, this is not the first time that a Prime Minister has close relations in the corporate world. No one is completely clean.
But present government has even won from ex-PM Manmohan in terms of having relations with industrialists. These relations don’t stop there as it is. It leads to biasness and helping businessmen even when citizens suffer losses.
Around Rs. 1.9 lakh crore became NPA in government banks from 2004-2014. Non-profit asset (NPA) money doesn’t has any hope of returning to the banks. However, more than Rs.3.16 lakh crore became NPA from April 2014 to April 2018 in 21 government banks.
That means BJP government has waived 166% more loan from April 2014-18 than that waived by Congress till 2014. BJP has clearly helped industrialists more than Congress.
Government banks have waived 7 times more loan than they have recovered from industrialists. These are the same government banks which never tend to waive farmer loans. Present government is being criticised for favouring businessmen unconditionally. On one hand these industrialists get loans which later turn into NPA, and on other hand they run away from India with money of common people.
