"The government has not waived of a single rupee due from any industrialist. Those who owed money to the banks and other creditors have been declared insolvent and removed from their companies by IBC (Insolvency and Bankruptcy Code) enacted by Prime Minister Modi's government. These loans were given largely during the UPA government," Jaitley said.
The Minister termed as "factually false" Gandhi's allegation that loans were not available to farmers but only industrialists.
"This was during the UPA government, particularly UPA-II, when bulk of amount constituting the NPAs (non-performing assets) today were given by the banking system. From 2014, we have been systematically taking one step after the other to recover these monies back," he said.
Jaitley also termed as "factually false" Gandhi's allegation that Modi had given Rs 35,000 crore to two diamond jewellers who have now escaped out of country. "This banking fraud started in the year 2011 when the UPA II was in power. It was only detected during the NDA period," he said.
Referring to Gandhi remarks that mobile phones being sold in India were of Chinese origin, Jaitley said it was a case of inadequate knowledge.
"In the year 2014 when UPA went out of power, there were only two mobile phone manufacturing units in India. In 2018, with the result of our electronics policy and the incentives in a four year period, this has increased to 120 units with an investment of Rs 1,32,000 crore," Jaitley said.
Gandhi had said that even Modi's mobile phone was of Chinese origin and he wanted that five years later mobile phones should be made in Mandsaur.
On Gandhi's allegation concerning jobs, Jaitley said the latest GDP data has "re-emphasised India as the fastest growing economy in the world."
"There is a double-digit growth in construction, expansion in manufacturing, an increased capital formation which indicates investment increase, large investment in physical infrastructure and increased investment in rural India. All these are job creating sectors."
Referring to Gandhi's remarks about connecting farms and villages to the cities, Jaitley said the Congress leader's impression was "of the Digvijay Singh era in Madhya Pradesh".
"Madhya Pradesh had the worst set of roads in India when the Congress was voted out in 2003. Poor quality of roads was one key reason for ousting the Congress."
Jaitley said investment in rural roads had tripled during the NDA government. "In comparison to what the UPA spent, there is a revolution in the Gram Sadak Yojana."
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)