India / Government's big action on Mallya-Nirav-Choksi, recovered 13 thousand crore by selling property

New Delhi : Finance Minister Nirmala Sitharaman mentioned the government's commitment to focus on the economy in the wake of the coronavirus pandemic. Sitharaman said in the Lok Sabha on Monday that banks recovered Rs 13,109 crore by selling properties of Nirav Modi, Mehul Choksi, Vijay Mallya. Also, public sector banks have recovered Rs 5.49 lakh crore from settlements and other measures in the last seven years.

Replying to the discussion in the Lok Sabha on the second batch of Supplementary Demands for Grants for the year 2021-22, the Finance Minister said, "Banks are safe and depositors' money in banks is safe." Attention is being given to the big topics related to the economy. Nirmala said that the states have enough cash. Only two states have negative cash balances.

After the reply of the Finance Minister, the Lok Sabha approved the second batch of Supplementary Demands for Grants for the year 2021-22 and the related Appropriation Bill by voice vote. Parliament's approval has been sought for authorizing a gross additional expenditure of Rs 3,73,761 crore. In this, 62 thousand crore rupees are related to the remaining assets and liabilities of Air India. During this, the opposition members were making noise in the House on some other subjects including the demand for the dismissal of Union Minister of State for Home Ajay Mishra in connection with the Lakhimpur Kheri violence case.

Sitharaman said that the government will consider the problems related to the prices of edible oil and other essential commodities through e-GoM (Empowered Group of Ministers). He said that public sector banks have recovered Rs 5.49 lakh crore from settlements and other measures in the last seven years. Money has been recovered from loan defaulters who have left the country. So today banks are safe. Regarding the financial position of the states, the Finance Minister said that in the first eight months of the current financial year, 86.4 percent of the amount has been transferred, which was provided during the year 2019-20.

The Finance Minister said that the Modi government looks into the issues of farmers seriously. In such a situation, Rs 58 thousand crore has been kept under the head of fertilizer subsidy in supplementary demand. The price of fertilizers is quite high in the international market. The government does not want the farmers to suffer. The bulk of the supplementary demand is going towards Air India related items.

During the discussion, opposition parties including Congress, Trinamool Congress, DMK, NCP had surrounded the government in the Lok Sabha on the issue of economy, inflation, unemployment and said that the economy is struggling with obstacles. There is crisis everywhere. The government is exaggerating the figures for unrealistic targets. Opposition parties alleged that the government was selling several state-owned companies, including Air India, contrary to public concerns.

According to the document, Rs 43,430 crore will be given for domestic and imported phosphate and potash related fertilizers under fertilizer subsidy and Rs 15,000 crore under urea subsidy scheme. An additional Rs 49,805 crore will be given to the Food and Public Distribution Department to meet the expenditure of various schemes related to food storage and warehousing.