Budget 2019: Rs 1 crore loan can be obtained under 59 minutes, says Piyush Goyal

What can be termed as a landmark decision, the Finance Minister Piyush Goyal today said that Rs 1 crore loan can be obtained under 59 minutes while presenting the interim Budget for 2019-20 in the Lok Sabha. “Rs 1 crore loan can now be obtained under 59 minutes,” said Goyal, while stating that his government has implemented several measures to ensure clean banking and instituted a resolution friendly mechanism for recovery of non-performing loans.

“Nearly Rs 3 lakh crore has been recovered in favour of banks and creditors,” he said, adding that “big defaulters too have not been spared by our government.” Finance Minister Goyal said that he remained confident that given the pace of reforms in the banking sector, other banks too will recover. “At the same time, recapitalisation of banks amounting to Rs 2.6 lakh crore has been done,” said the Finance Minister. “The 4R approach and a number of measures have been implemented to ensure clean banking—recognition, resolution, recapitalisation, and reforms,” he said.

Finance Minister Piyush Goyal also said 10 lakh patients have been treated so far under the Ayushman Bharat scheme, the world's largest health care programme. Presenting the Budget for 2019-20 in the Lok Sabha, Goyal also said the government has been providing cheaper drugs through Jan Aushadhi stores.

Highlighting steps taken up by the Narendra Modi-led government to provide affordable health care to the poor, Goyal said 21 AIIMS (All India Institute of Medical Sciences) have been established or operating in the country, "of which 14 have been sanctioned since 2014". Another one will be in Haryana, he added.