Ministry of Finance

------- Edited on 2019-03-06 -------



------- Edited on 2019-03-17 -------

To make up for the loss of nationalised banks caused by deliberate non payment of huge loans running into 1000's of Crores by prominent businessmen who were allowed to take refuge in other countries, the FM along with the New RBI Governor have ruthlessly cut intrest rates of Fixed deposits, PPF, SCSS and other wmall savings, which are the only means of livelyhood for retired Senior Citizens without any pention or business incime, almost killing them.
But the interset rates for lending, did not go down proportionately. Which indicates that either the persons in the Governement responsible for this action are totally ignorant reality or of their job or they have some understanding with the corrupt businessmen who fled the country defaulting 1000's of crores of loans mainly from nationalised banks and / or totally unconcerned about the plight of middle class and Senior citizens witout any pension income or business income.
So they do not deserve any rating at all.

Fundamentals of economics as relevant to our country are hardly understood while making the budget and any policy. Debt financing for manufacturing projects on non-recourse basis is missing for meritorious projects that would have given a boost to Make In India and internal financial strength specially when the product cost is optimised for social benefits keeping profit just for sustainability in business sense. Wasteful expenses have not been avoided.