SME Times is powered by   
Search News
Just in:   • Indian stock markets slip on global concerns, mixed Q2 results  • EU approves $7.5 bn acquisition of GitHub by Microsoft  • Sushma Swaraj calls on Sri Lankan PM  • HDFC Bank Q2 net profit up 20.6%  • RBI adopts calibrated tightening due to inflation risks 
Last updated: 21 Sep, 2018  

Chidambaram.9.Thmb.jpg Govt's heavy-handed approach hits exports credit: Chidambaram

Rupee.9.New.jpg
   Top Stories
» RBI adopts calibrated tightening due to inflation risks
» Economic offences threaten nation's financial stability: Naidu
» July-Sept manufacturing growth 65 pc: Survey
» CCI, CII organise roadshow on competition law
» Indian SME delegation participates in 8th European SMEs Congress
SME Times News Bureau | 21 Sep, 2018

The Indian export sector is suffering from lack of credit due to the BJP government's "heavy-handed" approach to the NPA problem, former Union Finance Minister P. Chidambaram said.

"Export credit declined from Rs 39,000 crore in June 2017 to Rs 22,300 crore in June 2018. Yet government claims that it is taking steps to boost exports," Chidambaram tweeted.

He said despite government's claims of taking steps to boost exports, the export credit had declined sharply to Rs 22,300 crore in June from Rs 39,000 crore in the same month in 2017.

"Export credit declined from Rs 39,000 crore in June 2017 to Rs 22,300 crore in June 2018. Yet government claims that it is taking steps to boost exports," Chidambaram tweeted.

"Thanks to the NDA government's heavy-handed approach to the NPA problem, banks have no money to lend and bankers have no mind to lend," he added.

"In a climate of suspicion and vendetta, the only thing a banker looks forward to is the date of retirement."

Chidambaram's remarks came on the heels of Finance Minister Arun Jaitley's remark that the UPA government is responsible for the non-performing assets (NPA) crisis.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 21 Oct, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(5)
» India needs strong, decisive leadership at Centre: Jaitley(1)
» Punjab to give unique number to plots of land to prevent frauds(1)
» Letter of Credit - a safe and secure payment mode?(1)
» All is not well with GDP growth(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter