How Does PM Modi Compare ‘Doomed’ Banking and PSUs to ‘Flourishing’ Enterprises During NDA Rule?
Synopsis
In a powerful address, PM Modi outlined the extensive changes in India's banking and PSU sectors since 2014. He condemned past policies while showcasing the NDA's transformative reforms, highlighting their impact on farmers and common citizens. This captivating discussion sheds light on the government's commitment to economic growth and social empowerment.
Key Takeaways
Significant reforms post-2014 have transformed banking and PSUs.
Over 50% of the population previously lacked basic banking services.
Rs 30 lakh crore loan disbursed through Mudra Yojana.
Empowerment of women through SHGs has been a priority.
PM-KISAN scheme has facilitated financial security for farmers.
New Delhi, Feb 5 (NationPress) Prime Minister Narendra Modi, addressing the Motion of Thanks to President’s rule in the Rajya Sabha on Thursday, highlighted the significant transformation in essential sectors such as banking, NPAs, and Public Sector Enterprises (PSUs) facilitated by the reforms implemented by his administration.
Emphasizing the NDA government’s commitment to "reform, perform and transform", PM Modi noted that numerous reforms initiated post-2014 have led to impressive growth across various sectors, from banking to PSUs, ultimately bringing about a transformational change in the lives of farmers.
The Prime Minister pointed out that prior to 2014, over 50% of India's populace lacked access to basic banking services, while the influential elite enjoyed privileged banking operations.
Criticizing the “flawed policies” of the Congress regime, he remarked that the banking sector was on the verge of collapse, with NPAs posing a significant challenge when he assumed office.
He asserted that previous governments hesitated to make crucial decisions, but under his leadership, reforms were implemented, unprofitable enterprises were consolidated, and common citizens were integrated into mainstream banking.
“A total of Rs 30 lakh crore in loans has been disbursed to ordinary citizens through the Mudra Yojana, benefiting women as well,” PM Modi informed the House.
He further revealed that the reach of Women Self-Help Groups (SHGs) has been broadened, with 10 crore women receiving direct financial assistance over the last decade.
“During the UPA era, the banking system was in disarray; today, the sector is enjoying unprecedented profits,” PM Modi stated.
Referring to PSUs during the Congress era, PM Modi conveyed that there was a widespread belief that they were destined to fail and be a financial burden, yet giants like LIC, State Bank of India, and HAL, once underestimated, are now realizing their full potential.
He emphasized that the comprehensive reforms introduced by the NDA government have made PSUs a vital component of India’s growth engine.
PM Modi also highlighted how the Pradhan Kisan Samaan Nidhi (PM-KISAN) has provided farmers with a dignified and respectful livelihood.
Despite the struggles faced by small and landless farmers even after seven decades of independence, under PM-KISAN, Rs 4 lakh crore has been allocated to them, granting them the opportunity to dream and contribute to national progress.
Point of View
It's imperative to acknowledge that PM Modi's address reflects a pivotal moment in India's political landscape. The emphasis on reforms and economic empowerment resonates deeply with the aspirations of the common citizen. While criticisms of previous administrations are significant, the focus must remain on constructive progress and the potential for growth in all sectors.
NationPress
11 Jul 2026
Frequently Asked Questions
What reforms has PM Modi implemented since 2014?
Since 2014, PM Modi's government has initiated numerous reforms aimed at revitalizing the banking sector, reducing NPAs, and enhancing the efficiency of PSUs, ultimately promoting economic growth.
How has the Mudra Yojana impacted common citizens?
The Mudra Yojana has facilitated the disbursement of Rs 30 lakh crore in loans to common citizens, significantly benefiting women and promoting entrepreneurship.
What is the significance of the Pradhan Kisan Samaan Nidhi?
The PM-KISAN scheme has been instrumental in providing financial assistance to farmers, with Rs 4 lakh crore allocated, helping them lead dignified lives and contribute to national development.
