New Delhi Government has recovered Finance Minister Nirmala Sitharaman on Monday said Rs 13,109 crore by selling properties of defaulters like Nirav Modi, Vijay Mallya and Mehul Choksi till July this year.
he added that another 792 crore had been recovered from Vijay Mallya and others till July. She was replying to a discussion on the second supplementary demand for grants.
“total of As per the information of Enforcement Directorate (ED), Rs 13,109.17 crore has been recovered from the property sale of Vijay Mallya, Nirav Modi and Mehul Choksi till July 2021,” Sitaraman said in Lok Sabha amid uproar by members.
the latest recovery was 792 crore from the sale of assets of Vijay Mallya and others on July 16, 2021, he said, adding that public sector banks have affected the recovery of the same 5.49 trillion in the last seven financial years. He said during the discussion, “So, these people who are defaulters who have fled the country, we have taken their money back and put it in public sector banks and hence, banks are safe today and depositors’ money is safe.” ”
Lok Sabha approves second supplementary demand for total grants 3.73 trillion for FY22 as on Monday, which includes net cash expenditure of 2.99 trillion.
Additional expenditure has been designed for infusion of 62,000 crore in Air India, additional fertilizer subsidy 58,430 crore on firming global prices, payment of pending export incentives and relaxation including RoSCTL. 53,123 crore and for transfer to the National Rural Employment Guarantee Fund of the Ministry of Rural Development 22,039 crores.
“We have to ensure that farmers do not suffer because of this (increased global prices). And therefore, an increase in the subsidy for fertilizer is provided, which is itself accounted for. 58,431 crore,” he said.
Responding to various issues including price hike raised by the opposition during the debate, he said that the government is taking measures to bring down the prices of edible oil and other essential commodities.
“We are taking measures through EGoM (Empowered Group of Ministers) to look after essential commodities. We will look into the issue of edible oil price and some essential food items.”
On the financial position of the states, Sitharaman said that the Center had transferred 86.4% of the amount provided in the entire year 2019-20 in the first eight months of the financial year.
From the National Disaster Response Fund (NDRF), “funds are being made available and an additional one is being provided”. 15,000 crore for emergency COVID-19 response. The financial position of the states is also reflected in the fact that the total cash balance of the states as on 30 November 2021 was 3.08 lakh crore approx, quite comfortable position”, he said.
He further said that states have sufficient cash balances and out of 28 states only two have negative cash balances.
Sitharaman also said that the government has so far paid approx. 93,685 crore from 2014 for oil bonds. He said the government would have to pay by 2026 until the oil bonds mature.
Quoting former Prime Minister Manmohan Singh, she said, “I want the country to remember that issuing bonds on oil companies and loading losses is not a permanent solution to this problem. We are passing our burden only on our children, whom it is doing.” The debt has to be paid off.”
Above 5,000 crore and above Rs 4,000 crore has been earmarked for additional expenditure by the Defense and Home Ministries respectively.
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