Aam Aadmi Party MP Sanjay Singh on Thursday exposed the Modi government’s ‘haircut’ scheme in the Rajya Sabha. He said in the House how the Modi government waived off Rs 3,53,655 crore of 43 companies in the name of ‘haircut’. He said that the Modi government had argued behind bringing the haircut scheme that more dues would be recovered by waiving the minor debt of the companies, but under this, these companies deposited only Rs 1,90,779 crore out of the total outstanding debt of Rs 5,44,434 crore. The remaining Rs 3,53,655 crore was waived of by the government.
The government has money to waive off the loans of capitalists, but it does not have money for education, health, waiving off the loans of farmers and students, restoring old pension and old army recruitment system. The government says that we are the fifth largest economy of the world, but the bigger truth is that in terms of per capita income, India stands at 142nd place.
Speaking on the Finance Bill in the Rajya Sabha today, Sanjay Singh said when the people of the country demand from the government to reduce inflation, the government says that they don’t have money. When the people of the country say that farmers’ loans should be waived off, the government says that they don’t have money. When the people of the country say that schemes like ‘Agniveer’ are a fraud with the youth of this country and the Indian Army, end this scheme and restore the old scheme, the government says that they don’t have money.
Sanjay Singh said, “Crores of employees of this country demand from the government to restore their old pension, the government says that we do not have money, we cannot restore your old pension. When the small vendors and hawkers of this country say that we have debts on us, we run our business by setting up small shops, please waive off our debts, the government says that we do not have money. When the students of this country say that we are studying by taking loans, we are in poverty, we are in trouble, please waive off our debts, the government says that we do not have money.”
He continued, “Through this house, I want to ask this government that you do not have money to waive off the students’ loans…if the youth says that this Agniveer Yojana is a fraud with us, please restore the old scheme, the government says that we do not have money.”
He said this government has no money for education, no money for health, no money for treatment.
Telling the people of the country that where did the money deposited by the common man in the banks go. “They have come up with a scheme, ‘haircut’. Those who owe thousands of crores of rupees, their hair cut means their minor debt will be waived off and major amount of debt will be recovered from them. I’ll tell you the truth behind this. The debt amounting to Rs 5,44,434 crore of 43 companies was pending and out of that, these people waived off Rs 3,53,655 crore. With this much of money, street vendors across the country can be given relief. With this money, the old defence scheme can be restored by ending the Agniveer Scheme. This is as much money that farmers’ debt could be waived off five times as Rs 70,000 crore waived off during the Congress regime. You waived off so much debt of only 43 companies,” said the Rajya Sabha MP.
Addressing the BJP-led central government, Sanjay Singh said, “You say that you are the fifth largest economy of the world. Yes, you are absolutely right. You are the fifth largest economy of the world. But you have ruined the banks of India. So, if you look at the per capita income here, you are at the 142nd position.”
He said the BJP government at the centre has cut the neck of the common man in the name of ‘haircut’. “The government will have to give an account of the Rs 3,53,655 crores waived off from the Rs 5,44,434 crores loan of 43 companies. The BJP government at the centre and its friends have robbed the Indian banks,” said Sanjay Singh.
Sanjay Singh read out the list of 43 companies whose loans to the tune of Rs 5,44,434 crore was waived off by banks. Some of the defaulters include Alok Industries Limited that had a loan of Rs 29,524 crore, out of which they paid off Rs 5,052 crore, and Rs 24,472 crore was waived off; MTech Auto Limited had dues amounting to Rs 12,641 crore, out of which they paid off Rs 2,615 crore and Rs 10,026 crore was written off; Bhushan Power and Steel Limited had an outstanding loan of Rs 47,158 crore, out of which Rs 19,350 crore was paid and Rs 27,808 was waived off; Bhushan Steel Limited had a loan of Rs 56,022 crore, out which it paid Rs 35,571 and Rs 20,451 crore was waived off by banks; Deeva Housing Finance Corporate Limited had a loan of Rs 87,083 crore, out of which they paid off Rs 37,161 crore and Rs 49,922 crore was waived off; Lanco Thermal Power Ltd. had an outstanding loan of Rs 33,331 crore, out of which it paid Rs 136 crore, and Rs 33,195 crore was waived off; Reliance Infratel Ltd. had a loan of Rs 41,055 crore, out of which it paid off Rs 4,236 and Rs 36,819 crore was waived off by banks.
Sanjay Singh said he has got this data from government sources, and he is ready to authenticate it.
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