BUDGET 2016-17: WHY NOT START NEW BANKS WITH THE SAME MONEY INSTEAD OF FEEDING THE SCAM BANKS?

There is a proposal in the budget 2016-17 for further funding to the already scam affected banks. The amount is a staggering Rs.25,000 crore  From the recent utterances of the Finance Minister, it appears that the major necessity for the fund is to feed the public sector banks who distributed soft loans to the rich and affluent persons who have no history of repayment and know the ways and means to manage the things in their favour. For arranging this huge amount to feed the rich, poor people are being squeezed with high tax rates mainly in indirect taxes. Instead of catching the rich defaulters, who syphoned off the money to other companies and abroad, blame is shifted to the farmers who take petty loans. Is there any action taken against those people who sucked the blood of the nation by granting such soft loans as well as those are not repaying it? Why the government is silent on the issue. What is the indication of all these? Is it not robbing the poor to feed the rich? Instead of feeding the scam affected banks, why not start new banks with the same money instead of pumping it into the same banks filled with such people?

Also read my book  ‘A FRAUD IN THE INDIAN CONSTITUTION’ :( http://www.amazon.in/FRAUD-IN-THE-INDIAN-CONSTITUTION-ebook/dp/B00SQKTADY )

Also read my other blogs:

http://indiantravelexperience.manjaly.net

http://publiccause.manjaly.net

http://cagreport.manjaly.net

http://centralemployeesnews.manjaly.net

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