Union Minister Arun Jaitley today hit out at Congress President Rahul Gandhi for accusing the Centre of waiving the loans of 2.5 lakh crores of the 15 top industrialists.

In his Facebook Post in response to Mr Gandhi's speech in Madhya Pradesh, Mr Jaitley said, the government has not waived of a single rupee due form any industry and the allegation levelled by Mr Gandhi is completely false.

He said, those who owed money to the banks and other creditors have been declared insolvent and removed from their companies by Insolvency and Bankruptcy Code (IBC). He said, these loans were given largely during the UPA Government.

Mr Jailtey also termed the accusation of Mr Gandhi that loans are not available to farmers but only to the industrialists as factually false. The Union Minister said, this was during the UPA Government, the bulk of amount which constitute the NPAs today, were given by the banking system during the period 2008- 2014.

He said, from 2014 the NDA government has been systematically taking one step after the other to recover these money back.

On the issue of manufacturing of mobile phones, Mr Jaitley said, in 2014 when UPA went out of power, there were only two mobile phone manufacturing units in India. He said, in 2018, with the result of electronics policy and the incentives in a four year period, this has increased to 120 units with an investment of 1.32 lakh crore rupees.

On the issue of Job creation, Mr Jaitley said, the latest GDP data has re-emphasised India as the fastest growing economy in the world. He said, there is a double digit growth in construction, expansion in manufacturing, large investment in physical infrastructure and increased investment in rural India. He said, all these are job creating sectors.

On Mr Gandhi's comment that Narendra Modi led government has given 35 thousand crore rupees each to two diamond jewellers who have now escaped out of country, Mr Jaitley termed it as factually false. He added that the banking fraud started in 2011 when the UPA-2 was in power and it was only detected during the NDA period.