Finance Minister Arun Jaitley warns borrowers to pay up or make way

Modesto Morganelli
Agosto 20, 2017

"The searches have unearthed highly incriminating material pertaining to the receipt of funds by Zahoor Watalifrom foreign sources and its further distribution to terrorists and separatists in Kashmir Valley for anti-India activities", the NIA had said in a statement. Maharashtra Chief Minister Devendra Fadnavis was also present on the occasion.

Commenting on the stone-pelting in Kashmir, Jaitley said that the "practice of funding" stone-pelters needs to be discouraged.

"Now, the fund squeeze is such that it is hard for them (separatists) to gather 25-50 people", Jaitley said while addressing a gathering.

The Defence Minister slammed the erstwhile Congress-led UPA Government, saying it had no firm policy to solve the decades-old Kashmir issue.

Speaking on the occassion, RBI Governor Urjit Patel called for recapitalisation of state-run banks to help them resolve the NPAs issue in a time-bond manner.

However, the Modi government was firm in its conviction that armed militancy in the state which shares its border with Pakistan must end, Jaitley added. Jaitley said that earlier there used to be huge crowds of thousands of protesters who used to throw stones.

Elaborating on benefits of demonetisation, Mr. Jaitley said money which was earlier getting circulated outside the economy had come into the formal banking system.

Dwelling upon the BJP's vision for building a "New India", Jaitley said, "We should have world-class public institutions so that shameful incidents such as the Gorakhpur tragedy do not recur". "To accelerate the growth rate, the Government will continue to take tough decisions in the interest of the nation as we have been doing ever since we came to power in 2014".

Talking further about the IBC, he said it has reversed the relationship between debtor and creditor, adding that the old regime where the creditor would get exhausted chasing the debtor and end up getting nothing, is now over.

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