He made this comment while reacting on the Union Cabinet's clearance to promulgate an Ordinance to crack down on corporate defaulters who refuse to return to India to avoid investigation by Indian authorities.
"Economic offenders had the support of the government during the Congress rule and that is why they did not flee to foreign countries. But, due to the strictness of the Prime Minister Narendra Modi led government, the economic offenders flee to the foreign countries. The new Ordinance will give more powers to the investigation agencies," Rao said.
He added: "The government has brought Ordinance against fugitives economic offenders. This Bill was tabled in the Lok Sabha but wasn't cleared due to the Opposition parties. The Congress is hand-in-glove with the fugitive economic offenders and that is the reason for the condition of the banks."
The Fugitive Economic Offenders Bill, 2018 was introduced in the Lok Sabha on March 12, 2018. It seeks to confiscate properties of economic offenders who have left the country to avoid facing criminal prosecution. (ANI)