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HomePoliticsIndira Gandhi’s bank nationalism a fraud, says Modi

Indira Gandhi’s bank nationalism a fraud, says Modi

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PM Modi targeted the late PM Indira Gandhi by calling her famous slogan ‘garibi hatao’ as a “false promise” and bank nationalisation a “fraud”.

Mandsaur: Prime Minister Narendra Modi targeted the late Indira Gandhi on Saturday, saying her famous slogan ‘garibi hatao’ was a “false promise” and bank nationalisation was a “fraud” in the name of the poor.

Were not those who promised to eradicate poverty “liars”, he said in a blistering attack on the Nehru-Gandhi family at a rally here ahead November 28 Assembly elections in Madhya Pradesh.

He also said if he gets half the time the Congress spent in power, he would bring about a transformation in the country.

Modi’s remarks came in the wake of Congress president Rahul Gandhi’s constant criticism that the BJP made “false promises” to the people in the run-up to the 2014 polls.
Modi said the four generations of the Nehru-Gandhi ruled the country but did not waste a single opportunity to “hoodwink” the people.

“Grandmother of the`Namdar’ (dynast), Shrimati Indira Gandhi, was prime minister of the country. Didn’t she give the slogan of removing poverty 40 years ago?” he asked the gathering.

“Tell me honestly, has poverty been eradicated? Wasn’t this a false promise? Weren’t those who made the promise liars?” Modi asked. The Prime Minister said that Indira Gandhi nationalised the banks “overnight” claiming that her government was opening their doors for the poor.

However, despite the nationalisation, half the people in the country had not seen the doors of the banks till 2014, he claimed.”Wasn’t it (nationalisation of banks) a fraud in the name of the poor?” he asked.

It was only after his government came up with the Pradhan Mantri Jan Dhan Yojana that the poor got access to the banking system, he said. “It is true that we need some time to correct mistakes of five-six decades. I have got just four years. Even if I get half the time they (Congress governments) had, I will bring about a drastic change,” the Prime Minister said.

Indira Gandhi had given ‘Garibi Hatao, Desh Bachao’ (remove poverty, save the nation) slogan during the 1971 general election campaign. Before that, in 1969, her government had nationalised 14 commercial banks. -PTI

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7 COMMENTS

  1. India is already severely communal under Nehru-Gandhi long rule since independence. Divide and rule policy was inherited by Nehru from British and destroyed unity of India. The dynasty congress leaders openly and proudly advocating that the party cannot win without 90% of Muslims vote. Throughout their long rule since independence, the dynasty congress have been appeasing Muslims under umbrella of secularism. It is totally against any development.

  2. Whenever Modi faces a tough election like Gujarat or Karnataka he always portrays Congress in bad light,and it clearly shows the tough situation in MP

  3. A lot of increasingly turgid water has flown down the weary Yamuna since 1969. So many years later, one cannot second guess Mrs Gandhi on the reasons for bank nationalisation. Now that its record is before us, the constructive course of action would be to summon the courage and wisdom to start privatisation / shutting down of PSBs that are virtually beyond salvage. IDBI Bank ought to have been strapped to an electric chair much before one third of its loans became NPAs; instead it has been strung like an albatross around LIC’s neck. The banks covered by PCA are unlikely to ever become vibrant, throbbing institutions, despite the enormous advantage of being part of a fast growing economy. Instead, the RBI is being persuaded to relax the rigour required to prevent them from sinking further. Not sure if the entire portfolio of MUDRA loans would satisfy prudent lending norms. The pace of bank frauds continues to quicken. Draw a curtain over the past, unveil bold reforms for the future.

  4. Modi is always cursing Nehru -Gandhi family to hide his own failures.This PM is in hurry to undo every good thing done by Nehru lineage.Nehru build the nation from scratch and Indra made India a power to reckon in the world.Modi has capitalist blood that’s why he is cursing Indira Gandhi on nationalisation of banks.Someday he could question her decision to stop privy purses to royal kingdoms as most of them are his bhagats.

  5. “He also said if he gets half the time the Congress spent in power, he would bring about a transformation in the country.”

    My God! Modi ji wants to rule for 30 years?! Haven’t the 5 been sufficiently nightmarish for us?

    He reminds me of two lines of an old Hindi song:

    MUJHE TUM-SE KUCHH BHEE NA CHAHIYE,
    MUJHE MEREY HAAL PE CHHOD DOH!

  6. Hiding under congress for the PM is the art perfected by him. But we don’t know how long people can be taken for granted
    It is time he should give room for Manmohanji to manage our country

  7. Both Congis,Bank men and borrowing public are cheats and responsible for the state of affairs now.Though natinalisation was done to rebutt her other colleagues in haste,nationalisation helped a lot of people.

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