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Govt's new measures will boost the economy: BJP MP Kirit Solanki
NPAs were a result of flawed policies of earlier govt. Some people have absconded from the country after taking loans, but government won’t spare them, says Kirit Solanki
Updated : Sep 30, 2019, 06:45 AM IST
 "Kirit Solanki")
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BJP MP Kirit Solanki on Saturday said that the BJP government was not the only one to seek funds from the Reserve Bank of India (RBI) and that previous governments had also done so.
The Ahmedabad West MP along with fellow MP Hasmukh Patel (Ahmedabad East) was in the city for a press conference to give details about the economic initiatives of the BJP government and how it had helped the economy.
He said the doing away of surcharge on capital gains, reduction of corporate tax etc will give a boost to the economy. "No other country perhaps has such low corporate tax as India does. It is lower than what is in China," said Solanki.
To a question on the rising debt of the government, Solanki said that all government's have debt. "But its is imperative for governments to make efforts for the poor and the farmers. All our initiatives were definitely needed," said Solanki.
Patel when questioned about the Minimum Support Price (MSP) for farmers said that while it is good to get a MSP higher than the market price, but even during the Congress rule that was a rarity. "Moreover this government is promoting organic farming and have promised to make good the losses if the farmers adopt these methods of farming," said Patel.
Solanki said that Finance Minister Nirmala Sithara Sitharaman's comments about Ola and Uber were taken out of context. Sitharaman had in a press conference said that millennials preference for Ola andUber were affecting the auto sector.
He said the merger of 27 nationalised bank into 12 will have a positive impact on economy and will improve access to loans for poor and small businessman. As for NPAs he said, "NPAs were a result of flawed policies of earlier government. Several people have absconded from country after taking hefty loans but the government won't spare them," said Solanki.
He said that it was due to the efforts of the Modi government on the economic front, that there was a 28% surge in FDI. $16.33 million in FDI has come into the economy. He said the income tax revenue had seen a surge of 1.36% while the number of taxpayers had also gone up. "Thirty five crore people have opened Jan Dhan accounts and these accounts have over 1 lakh crore worht of deposits upto April," said Solanki.
