Prime Minister Narendra Modi on Thursday defended the NDA government’s policies in the Rajya Sabha, highlighting banking reforms, support for small farmers and changes in public sector undertakings while criticising the Congress’ record in these sectors.
Replying to the Motion of Thanks on the President’s Address at the start of the Budget Session, Modi contrasted the NDA’s policies with those of previous Congress-led governments. He alleged that earlier policies weakened banks, neglected small farmers and left public sector enterprises vulnerable.
Modi on banking reforms and NPAs
The Prime Minister accused previous governments of leaving the banking system burdened with non-performing assets (NPAs). He said the NDA government addressed the problem through reforms, consolidation and greater transparency.
“There were mountains of Non-Performing Assets in their days. The challenge was big, but we acted prudently. We took all stakeholders into confidence, undertook reforms, and made things transparent. We merged those government banks that were not doing well with larger banks,” Modi said.
According to him, these steps improved the financial health of public sector banks and expanded access to formal banking. Modi said improved banking stability helped increase transactions and enabled people who previously lacked access to banking services to become part of the system.
Focus on small farmers and rural support
Modi also focused on rural issues and accused earlier governments of ignoring small farmers. He cited the PM Kisan Samman Nidhi scheme as a key intervention aimed at direct income support.
“We felt for small farmers and brought PM Kisan Samman Nidhi. Rs 4 lakh crore have been sent to their accounts. This has empowered our small farmers,” he said, highlighting direct benefit transfers to beneficiaries.
Public sector undertakings and trade policy
Speaking about public sector enterprises, Modi said the NDA government had changed the approach towards PSUs. He alleged that earlier there was a belief that public sector units existed only to be shut down and accused previous actors of creating unrest among workers.
The Prime Minister also drew a comparison between past defence controversies and present trade engagements, saying that India’s global agreements now reflect confidence and economic strength.
Throughout his address, Modi argued that the NDA period represented a shift in governance, linking lower NPAs, PSU reforms and direct farm income support to broader changes in policy and administration, while criticising the Congress era for what he described as mismanagement in finance, industry and agriculture.
