Prime Minister Narendra Modi on Friday blamed the Opposition for harming the financial sector, with its “aggressive policies”, and claimed that his government had taken several steps to expel this “non-transparent credit culture” in India.
“The old ways and old systems of banking and non-banking sectors are being changed,” Modi said, while addressing a virtual conference to discuss the measures offered to strengthen financial services in this year’s Budget. “Ten to 12 years ago, in the name of aggressive lending, how the banking sector of the country, the financial sector was harmed, you know it well, you understand.”
The prime minister said that the government had three priorities areas of focus while tending to the economy. These are protecting the earnings of ordinary families, effective and “leakage free delivery” of government benefits to the poor, and the promotion of infrastructure-related investment for the development of the country, he…