| Hailing the Reserve Bank of India’s decision to cut repo rate, Union Minister for Environment, Forest, Climate Change, and Information and Broadcasting Prakash Javadekar said on Saturday that the government had asked banks to transmit the accruing benefits to loan borrowers.
“The RBI took an important decision and decided to reduce repo rate for the fifth time this year. The decision will lower monthly instalments to be paid. Bank loans will become cheaper and strengthen industries,” Javadekar said while addressing a press conference at the Bharatiya Janata Party state headquarters here.
“The government has directed banks to pass the benefits to people,” he said and added, “The government has also lowered corporate taxes. We need domestic and foreign investments to boost economic growth.”
Javadekar said that the government led by Prime Minister Narendra Modi had taken 110 decisions in 15 Cabinet meetings to accelerate investment inflows. “This will boost employment generation and Make in India initiative,” he said.
Javadekar said the government had simplified the process of environmental clearances.
“Permissions and clearances are being given within 108 days in comparison to 640 days during the UPA (United Progressive Alliance) regime. We do not compromise on environmental policies. We will protect the environment and develop the nation,” he said.
Amid ongoing public protests against the cutting of trees at Aarey colony in Mumbai, Javadekar backed the proposed metro shed in Aarey forest area and said that development and environment protection should be done together.
“We do not wish to cut even a single tree in Aarey but development is also important. We will plant more trees in place of those cut. I will personally speak to Aditya Thackeray about this,” he said.
Drawing parallels between the development of Delhi Metro and Mumbai Metro, he said, “The High Court has ruled that Aarey is not a forest. Metro came to Delhi and today it is the best Metro across the world. How does it develop? When the first Metro station was constructed, 20-25 trees were cut down. People then protested against it.”
“But Metro has planted five trees for every single tree that it has cut down. Now, there are 271 stations. Forest undercover area has increased in Delhi. Thirty lakh people are using the Metro as public transport. This is the mantra of development and protecting the environment. Both should go together,” the BJP leader said.
Protests erupted on Friday at Aarey forest area after the Bombay High Court dismissed all petitions against the proposed cutting down of over 2,500 trees in Aarey Colony of Mumbai to make way for a Metro car shed and refused to declare the colony as a forest.
BJP alliance partner Shiv Sena has attacked Maharashtra Chief Minister Devendra Fadnavis for backing the Metro shed. Shiv Sena senior leader and Rajya Sabha member Sanjay Raut on Saturday morning posted a cartoon in which the BJP leader is blindfolding Lady Justice with a strip of cloth that reads, “Arey not a forest.”
