Vedanta boss says Modi govt should disburse Rs 2 lakh loans to all Aadhaar holders; here’s why

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Published: June 10, 2019 2:13:23 PM

The Narendra Modi government should disburse up to Rs 2 lakh micro loans to all the Aadhaar card holders to promote entrepreneurship, end poverty and generate jobs in the country, said a billionaire businessman.

The loans could be extended to the public under the Pradhan Mantri Mudra Yojana,  Anil Agarwal, the founder and Chairman of Vedanta Resources, said. (File photo)

The Narendra Modi government should disburse up to Rs 2 lakh micro loans to all the Aadhaar card holders to promote entrepreneurship, end poverty and generate jobs in the country, said a billionaire businessman. The loans could be extended to the public under the Pradhan Mantri Mudra Yojana,  Anil Agarwal, the founder and Chairman of Vedanta Resources, told news agency PTI in an interview. Sharing his views further, the veteran businessman said that the government should focus on tapping minerals and gas resources to take the economy forward. Jobs could be created in natural resources and electronics, Anil Agarwal also told the news agency. “We have done very well in above-ground, in agriculture etc. Now we should concentrate on below ground, tapping minerals and oil and gas resources.”

The government should also look at granting autonomy to the public sector companies and banks. He also talked about the need to develop tourism and industry. The district collectors should be turned into business development managers to develop tourism and industry across the country, he added. Suggesting further, Anil Agarwal said that the Modi government should also make public sector companies and banks independent by making them board-run just like British Airways and GE.

Also read: Agriculture revolution 2.0: Modi 2.0 must rev up farm output above normal levels

“All PSUs and PSBs can perform three times better if autonomy is given to them,” he said. “PSUs have huge potential and immense talent pool. But the executives are afraid to take decisions because of fear of inquiries. They should be empowered to take decisions”, he told PTI. He also said that the the 1.8 lakh Anganwadis should be made autonomous and changed for development of children and women empowerment.

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