In First Speech Since Gujarat Campaigning Ended, Modi Slams UPA II

Modi was speaking at FICCI’s 90th annual general meeting.

Prime Minister Narendra Modi.

(Photo: Reuters)

In his first speech since campaigning for Gujarat elections ended officially, Prime Minister Narendra Modi registered a strong critique of the UPA government preceding his.

Speaking at Federation of Indian Chambers of Commerce & Industry’s (FICCI) 90th annual general meeting, in a near 45-minute-long speech, Modi slammed UPA II for upending the banking system.

This issue of Non-Performing Assets is the biggest liability given to my government by UPA II. NPA was the UPA government’s biggest scam. Bigger than even Commonwealth, 2G and coalgate.

PM Modi

Demanding to know what FICCI was doing when the previous government was granting loans to potential defaulters, Modi said:

What was FICCI doing when members of the previous government put pressure on banks to give loans to industrialists? The government knew, banks and several important personalities knew what was happening was wrong.

PM Modi

Adding that his government was working towards rectifying the wrongs of his predecessors, Modi said:

This government is working to end the fight with the system. We are working to establish a system which is not only transparent, but sensitive as well, and which understands the needs of the people.

PM Modi

Modi has lined up several events on the day after campaigning ended. He was seen paying homage to martyrs of the 2001 Parliament attack in the morning. He will also be commissioning submarine INS Kalvari on Thursday, 14 December.

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