Chidambaram slams PM Modi for remarks about bad loans during Congress rule

Former Finance Minister P. Chidambaram on Sunday slammed Prime Minister Narendra Modi for his remarks about bad loans generated during UPA rule and asked his government to disclose loans given during the NDA rule that turned into Non-performing assets (NPA).

"The real test is, will the NDA-2 match the record of UPA-2 and that of UPA-1. Let's assume that PM is right when he says that loans given under UPA have turned bad. How many of those loans were renewed or rolled over (that is 'evergreened') under NDA?" Chidambaram wrote on Twitter.

"Why were those loans not recalled? Why were those loans evergreened? How many loans and how much that was given after May 2014 have become non-performing assets? This question was asked in Parliament but there is no answer so far," the senior Congress leader added.

Chidambaram also thanked Principal Economic Adviser Sanjeev Sanyal for endorsing his view that the Q1 GDP growth of 8.2 percent is largely due to the low base effect (5.6).

"Thank you for also agreeing that going forward, the base effect will not be so favorable and the growth rate will slow down. Let me repeat, I am happy that the growth rate has quickened, but it is too early to celebrate," he added.

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