Modi govt taking action as per law against Vijay Mallya, says Nitin Gadkari

Union Road Transport and Highways Minister Nitin Gadkari has said the government is taking action as per the law against liquor baron Vijay Mallya, who has fled the nation with over Rs. 9000 crores of unpaid debt.

Gadkari told ETV News Network head Jagdeesh Chandra in a recent interview that judicial proceedings are on with regard to Mallya's default.

"Steps will be taken on whatever will be right. Earlier, his companies were giving interest to banks regularly. At that time, the people were rating him good, the consultants were considered good, their managers were considered good. When one company faced difficulty, then all are termed as thief," said Gadkari on ETV's JC Show.

"The government is taking action as per law. Overall, we have to take a positive development oriented approach. We should help the bonafide defaulters. Actions should be taken against malafide defaulters," he added.

Responding to a poser about the progress on black money issue, Gadkari said the people cannot hoard black money outside the way the economy is changing.

"The economical reforms on gold and in other things will curb black money. Slowly, the black money will come back. We have also given an option to disclose the black money by paying tax and penalty," he added.

When asked about perception that the BJP-led NDA Government has changed the concept of black money after coming to power, Gadkari said there is a separate law for black money kept abroad and a separate law for black money hoarded in the country.

"There are internal and external laws for these. It's government's duty to implement the laws. Take for example, circulation of fake currency that comes from Pakistan and Bangladesh. That is also an issue. Second, people feel pinch due to complicity in tax laws. So, we are trying to build an economy which will be transaction oriented. One need not require to pay tax. Taxes will be deducted during transaction through banks. We are working on such proposals," said Gadkari.

"In this team along with me, there is Manohar Parrikar, some economists, some media people, some film stars are also involved. After chalking out plan, we will place the proposal before Modi. It's a difficult work. Everyone should extend support. Ultimate aim is that people should not face difficulties," he added.

Gadkari further said Prime Minister Modi is giving stress on ease of doing business, adding the government is working on that line.

"Like, recently we worked on toll collection. Now, there's no need to stop at toll gates. Like recharging mobiles, there will be Fast Track Sticker on the Car Wind Shield. The toll will be auto deducted and you will be getting messages on all the deductions. Sixty thousand crores will be saved through this," Gadkari said.

"Similarly, we are placing scanners in all the ports. The rails can be scanned. There won't be need of presence of customs or inspectors. We are adopting technologies. This will automatically reduce the corruption," he added.

When asked one side there is talk of growth and development while on the other hand there is no move in share market and the jewellers are worried, Gadkari said it is the fact that the Chinese economy has come down, adding there is slowdown is in the whole world economy.

"So, it's obvious that financial crisis is looming over the world. It's a global phenomena. We have also difficulties in different sectors. When there was import of steels from China, at that time our steel market was in difficulties. Cement industries were also facing difficulties. When we worked on infrastructure, the steel and cement industries started prospering. We are also accepting that everything is not in good position," said Gadkari.

"But we are trying to improve the situation. Banks positions are also not in good terms. But we cannot term every defaulter as thief. We have to see if default is bonafide mistake or malafide mistake," he added.